Betfair account hacked-money removed

reason2

in fairness, even if his password was "password" someone has still hacked his account and stolen money - betfair havent verified the new details - usually they require proof of ID when bank details change.

A lesson on password security is irrelevant here, the password may have been great, it doesnt change the point of the post.

a password like "frghs4385uifjspw/&%^(" in 2002 would be equally as good in 2017

takman

reason2 wrote: »

in fairness, even if his password was "password" someone has still hacked his account and stolen money - betfair havent verified the new details - usually they require proof of ID when bank details change.

A lesson on password security is irrelevant here, the password may have been great, it doesnt change the point of the post.

a password like "frghs4385uifjspw/&%^(" in 2002 would be equally as good in 2017

The point being made was that using the same password for 15 years means the chance of it being compromised is far higher than using a new password every year.




OP i hope you have now changed the password for your account?


Also did you use the same password on another other websites?

naedanger

takman wrote: »

The point being made was that using the same password for 15 years means the chance of it being compromised is far higher than using a new password every year.

Changing passwords frequently may be sensible if the risk of concern is that someone is interested in eavesdropping. However if the risk is that someone will steal money then changing passwords frequently is unlikely to improve security and in practice is likely to weaken it.

See, for example, the following article:
http://lifehacker.com/5966214/how-often-should-i-change-my-passwords

or

https://www.howtogeek.com/187645/htg-explains-should-you-regularly-change-your-passwords/

To the op: I suggest you follow the advice in post 5. Betfair have not given any explanation as to why they believe you are liable for the hack. For example - they should have security checks to validate new bank account details. What were they and is it clear they were followed?