No one is really sure when the FFIEC's new authentication guidance will be issued, but we do know banking institutions can't afford to wait. Hence, our new FFIEC Authentication Guidance Resource Center.
ID fraud prevention requires partnership, and according to Javelin, the future of fraud-detection should be built around integrating a bank's back-end solutions with the fraud-prevention and detection solutions in which consumers are already investing.
Online security has come a long way in recent years, but so have phishing attacks. As the Epsilon e-mail breach proves, fraudsters are honing their attacks through the acquisition detailed e-mail profiles and sensitive information connections, says ID security expert Tim Rohrbaugh.
"The phishing only works if the consumer participates; they have to click on something; they have to open something," says Neal O'Farrell of the Identity Theft Council. "So, based on that assumption, shouldn't we be doing more to educate them?"
Key questions: What impact - if any - will the recent RSA and Epsilon data breaches have on the FFIEC's pending authentication update? And when will this long-awaited banking guidance finally be released?
All organizations - including federal agencies - must leverage technologies that exist today to secure online transaction systems for E-Gov. Until now, fragmented silos of security technologies have been used to protect individual applications, data, or users. In a world of Webconnected smart phones and interactive...
A preliminary draft of new online authentication guidance from the Federal Financial Institutions Examination Council puts greater responsibility on the shoulders of financial institutions to enhance security.