The increase in password-stealing demonstrates the importance of additional security measures for accessing accounts and storing data.

Kaspersky, a Russian AV vendor, discovered 160,000 more targets in September 2021 than in April of the same year.

They analysed incidents of Trojan-PSW – a sophisticated system capable of gathering account information including login details.

The total number of attacks during the period assessed was nearly half a million.

The increase can be credited in part to the pandemic, as the use of online systems for working and personal use increased dramatically increased.

The Rise of Password Theft

Kaspersky security expert Denis Parinov commented: “Statistics show logins, passwords, payment details, and other personal data continue to be an attractive target for cybercriminals and they remain a popular commodity on the dark market.

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“For this reason we encourage internet users to take extra steps to protect their accounts.”

Multi-factor authentication (MFA) is one way in which websites can increase security for their customers and prevent password theft. It commonly involves asking users to verify their login through a text message or phone call.

The increased number of security breaches suggests that users should be careful not to follow unverified links, open emails from unknown senders and use an updated security solution.

In the US, an MFA is the minimum security standard to qualify for online insurance. In a recent White House summit between President Biden and tech CEOs, it was revealed that MFA could prevent up to 90% of digital attacks.

However, last year systems giant Microsoft urged organisations to avoid MFA methods that rely on phone networks as these can be intercepted. They advised moving towards authentication apps, which avoid the potential for hacks such as SIM swapping.

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