Don't wait...
You need to get to the leader of the business immediately.
What you are describing is a possible business-disabling hack. If you don't have internal skills, hire outside help.
If *secure* passwords are being misused, you likely have lost control over your environment and your customer and employee data is compromised, including payroll, bank and other mission critical information.
Time is your enemy...
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On the bike > not on the bike
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