The 'How Safe Is Your PIN?' infographic from Backgroundcheck.org features a step by step intuitive ladder on the ways to prevent theft of one's bank account. In 1967, the same man who invented the ATM invented the PIN (Personal Identification Number); his wife thought a four-digit code would be easier for people to memorize rather than a six-digit code. There are 10,000 combinations possible with 50 percent of people sharing either their bank card or credit card PIN number with a friend or family member.
The most used PIN is 1234 followed by 1111 and 0000. The least common PINs include 8068 and 8093. The most common variation of numbers include 19XX, meaning that staying away from using your year of birth is probably wise.
Key Themes Behind This Trend
- Bank Account Security
- Opportunity for innovative technologies and strategies to prevent theft and hacking of bank accounts.
- PIN Code Protection
- Potential for disruptive solutions to enhance the security of PIN codes and prevent unauthorized access.
- User Education
- Demand for educational initiatives to raise awareness about the importance of strong PIN codes and secure banking practices.
Where This Applies
- Cybersecurity
- Opportunity for cybersecurity companies to develop advanced solutions to protect bank accounts and PIN codes from hacking.
- Financial Technology
- Potential for fintech companies to create innovative tools and platforms that enhance the security and privacy of banking transactions.
- Digital Education
- Demand for online education platforms and resources that provide guidance on secure banking practices and PIN code protection.
