About Us | Contact Us
View Cart

FFIEC Releases Supplemental Guidance on Internet Banking Authentication

By Vigilize | Tuesday, June 28, 2011 - Leave a Comment

The Federal Financial Institutions Examination Council (FFIEC) today issued a supplement to the Authentication in an Internet Banking Environment guidance, issued in October 2005. The purpose of the supplement is to reinforce the risk-management framework described in the original guidance and update the FFIEC member agencies’ supervisory expectations regarding customer authentication, layered security, and other controls in the increasingly hostile online environment.

The continued growth of electronic banking and greater sophistication of the associated threats have increased risks for financial institutions and their customers. Customers and financial institutions have experienced substantial losses from online account takeovers. Effective security is essential for financial institutions to safeguard customer information, reduce fraud stemming from the theft of sensitive customer information, and promote the legal enforceability of financial institutions’ electronic agreements and transactions.

The supplement stresses the need for performing risk assessments, implementing effective strategies for mitigating identified risks, and raising customer awareness of potential risks, but does not endorse any specific technology for doing so. The FFIEC member agencies will continue to work closely with financial institutions to promote security in electronic banking and have directed examiners to formally assess financial institutions under the enhanced expectations outlined in the supplement beginning in January 2012.


Read the Full Supplement:    Supplement to Authentication in an Internet Banking Environment


same_strip_012513

Posted in Compliance

Latest News
    Employees working from home may find it more difficult to follow security policies… An article review. The surge in employees working from home during the pandemic created many headaches for IT departments around the world, many of whom had no telecommuting policies or procedures before the start… but what about the employees who had to […]
    A Webinar-Movie infotex presents the 2021 update of a previously released webinar presented by our Lead Non-Technical Auditor, Adam Reynolds. This movie-short is intended for those who are planning to participate in an infotex Incident Response Test. Not sure about the importance of an Incident Response Test? Check out onetest.infotex.com for more information! Please let […]
    PRESS RELEASE – FOR IMMEDIATE RELEASE BUSINESS NEWS INFOTEX PROMOTES BRYAN BONNELL TO DIGITAL MEDIA MANAGER infotex, the Managed Security Service Provider, announced Bryan Bonnell’s promotion from Senior Data Security Analyst to Digital Media Manager.  “He will continue his normal DSA duties on a limited basis, because we want everybody to stay in touch with […]
    PRESS RELEASE – FOR IMMEDIATE RELEASE BUSINESS NEWS RYAN HENSLER OF INFOTEX, EARNS CISSP CERTIFICATE Ryan Hensler, Senior NOC Associate of infotex, Inc., recently received the CISSP certification. “Ryan has proven himself to be a seasoned security professional both in his work for infotex and now through achieving this certification.” said Sean Waugh, Information Security Officer. […]
    Dubious app store subscriptions bring in hundreds of millions of dollars in revenue… An article review. When it comes to malicious applications you’re probably familiar with things like malware and ransomware, and you have ways to avoid them.  Modern desktop and smartphone operating systems have built-in malware detection tools, and some web browsers even automatically […]
    Another Manifesto A supply-chain manifesto by the author of Never Say Never: A Password Manifesto! Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . [Sssshh.  Turn out the lights.  Let’s lower our inner voices, as I have something to propose that might be a bit […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office.  
    While malware and security exploits continue to make headlines, the majority of reported security incidents involve phishing… An article review. With all the attention given recently to security incidents involving software exploits and high-profile malware attacks, it would be easy to believe that they represented the most likely incidents you may encounter in the wild.  […]
    Implementing Protective DNS could help your organization avoid attack… An article review. Noting the risks still associated with the Domain Name System (DNS), the National Security Agency and the Cybersecurity and Infrastructure Security Agency (CISA) have recently released new guidance on the selection and use of a Protective DNS service (PDNS). The guidance, released in […]
    A Webinar-Movie In 2018 the NCUA started reviewing credit unions with $1 billion or more in assets using a tool known as the Automated Cybersecurity Examination Tool, or ACET. The expansion to smaller credit unions is inevitable. In the new year, credit unions should now think about how they can come into compliance with the […]