In June 2011, the Federal Financial Institutions Examination Council issued the "Supplement to Authentication in an Internet Banking Environment."
The Supplement was intended to reinforce and augment the authentication guidance issued in 2005, which had been developed to address threats to online banking. However, since 2005 hacking techniques have become so sophisticated that hackers easily evade security measures.
The updated guidelines change expectations for Risk Assessments. Layered security is no longer an "optional" method for risk mitigation, specific authentication methods have been removed for primary controls, and companies must implement customer security awareness programs.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
