The Password is ... 'Aggregator' - and it's Risky! | AccountingWEB

The Password is ... 'Aggregator' - and it's Risky!

Convenience is great, especially on the Internet, but familiarity breeds insecurity and invasions of privacy when it comes to putting all your eggs in one basket.

Aggregators is the newest wave to hit cyberspace, and is basically one portal in which you can control all your finances, purchases and other buying decisions from a single source. Examples include AOL Finance, Microsoft MoneyCentral and iVillage.com.

So what's the problem? Keeping one source isn't a good idea, say analysts who research online security and privacy for a living. That's why most of us tend to keep more than one password around so that hackers can't determine how to get into our online banking account.

Companies whose technology is being used to power such sites include Yodlee, VerticalOne and ebalance, and while these companies contend that their sites are secure, experts are more worried about consumers and the business marketplace's use of the Internet and the lack of continually updating virus software.

All it takes is to get hold of one aggregator password or hack into your hard drive - and that's easy say some hackers.

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