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Passing on passwords: Securing your firms legacy in the afterlife

(3) Create secure login details

Thinking about the digital legacy of your business is a good opportunity to check the security of the current state of online accounts. Trying to think of a combination of usually eight or more alphanumeric characters for each online account can be testing for most.

In a recent survey by LastPass, 79 per cent of respondents admitted to using the same or a similar password across all their accounts. This presents a number of security risks: not least from a rogue or careless employee. For best practice, use a password generator to create strong, randomised sequences for each account you might have.

Average UK home has 8.3 connected devices, rocketing nation’s digital ad spend

(4) Passing this information on

With the average Briton holding around 19 online accounts and businesses likely to hold considerably more, the task of tracking them down and then finding their passwords is almost an impossible feat. Many business leaders mistakenly believe putting their passwords in a will is the best way to go when planning for the future.

These become a matter of public record once the owner is deceased which would leave company data wide-open to general consumption. Then mechanisms need to be in place that securely record new and existing usernames, emails and passwords, only allowing access to authorised parties in the event of the owners death.

As a rule, businesses calculate risk on a daily basis and do not leave critical decisions to chance. The digital future of the business should be no different. While it’s not always easy to prepare for the unexpected, planning and foresight must be applied in order to create a successful continuity plan for the business and those trusted with its ongoing management.

As well as minimising financial and emotional repercussions, once youve found out who will take over, they must know how they will do it.

Joe Siegrist is the VP and GM of LastPass

Keep on running: Protect your data and stay in business.

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