After one commercial customer fell victim to corporate account takeover, this institution suffered significant losses and learned that legal disputes rarely favor the bank.
With the recent release of the new online authentication guidance, the Federal Financial Institutions Examination Council (FFIEC) directs banking institutions to provide a more air-tight defense against risks to their networks and customers.
The barrage of recent high-profile data breaches confirms what experts...
When it comes to hot topics, they don't get hotter than authentication, cloud computing and IT governance - all of which I've discussed at length in recent interviews with industry thought-leaders. Let's review some highlights from these conversations.
Bankers aren't waiting for the FFIEC to act on the release of its updated online authentication. Instead, they've already begun to comply with the major points recommended in the draft. And the death of Osama bin Laden has heightened concerns terrorists' efforts to launder money through legitimate banking channels.
Tips for Preventing Fraud and Complying With FFIEC Guidance
The onslaught of ACH/wire fraud incidents confirms what the researchers have long said: We're in a new wave of malicious code. This new wave is run by organized crime, and it's focused on one objective: Stealing personally identifiable information and...
It's been over three months since the accidental disclosure. When will the final FFIEC authentication update be released? "I don't think we're any less safe," says Gartner's Avivah Litan. "We just need to step up enforcements."
Gigi Hyland, board member of the National Credit Union Administration, says the latest draft of authentication guidance is awaiting final signoff from just one member agency of the Federal Financial Institutions Examination Council.
Smartphones are ubiquitous in organizations across industry today. But how secure are these devices -- and what security and liability vulnerabilities do they expose?
The explosion in task-specific applications for mobile devices has gone
hand-in-hand with the growth in cell phones and other computing
tablets. Financial institutions are no exception to the pressure to extend their
services to the mobile channel.
In this whitepaper, readers will learn about:
The...
Since the FFIEC guidance in 2005 on "Authentication in an Internet Banking Environment" cybercriminals have evolved significantly, leading the FFIEC to release new guidance for protecting your business and your customers from fraud. Learn about smart device identification technologies banks will need to adopt to...
Mobile devices have forced a radical shift in the way organizations service their customers. Financial institutions are no exception to the pressure of extending their online services to the mobile channel. By 2015 mobile banking could reach one in five adults in the United States. But the growth in mobile devices has...
Current solutions are good at authenticating users, but not the integrity of the transactions, says Rik Ferguson of Trend Micro. "We're not authenticating the right things."
"Multifactor authentication is perceived by many as being the panacea," says Rik Ferguson of Trend Micro. "[But] the real problem is: We're not authenticating the right things."
The Internet is inherently insecure, and the only way to ensure today's evolving information systems is to build them upon three pillars of trust. This is the premise of Mike Ozburn, Principal at Booz Allen Hamilton, which has just authored a new white paper about these pillars.
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