It's no longer just about mobile banking. Mobile technology today is deployed by leading-edge institutions for out-of-band user authentication, transaction verification and to help prevent fraud via real-time security alerts.
How can your institution crack down on fraud and maximize its mobile investment?
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As part of the updated FFIEC Authentication Guidance, U.S. banking regulators mandate that financial institutions conduct periodic risk assessments of their electronic banking services.
But in the face of evolving threats, a growing online customer base and emerging mobile technology, what is the most effective...
Financial institutions still have a long way to go to fight fraud and mitigate online banking vulnerabilities. But what exactly are the top vulnerabilities, and what can institutions do about them?
ACH fraud victim Mark Patterson says small businesses like his welcome improved online security measures from banking institutions. But is the new FFIEC Authentication Guidance sufficient? Patterson says no.
Two years after his business was a victim of ACH fraud, PATCO's Mark Patterson doubts whether most small business owners are yet aware of the risks they face. And he doesn't think the FFIEC guidance will help.
Banks and credit unions are feverishly working to meet the FFIEC's authentication compliance deadline next year. But experts say institutions should be looking beyond the guidance, by making investments in cross-channel fraud detection.
Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.
Mobile banking is a 'must-have' today, but the foray into this new financial-services arena comes with risk. Consistent review and implementation of security layers and controls is the only strategic way to tackle emerging mobile offers.
How much crossover should banking institutions rely upon as they evaluate authentication standards for retail vs. commercial accounts? Online security expert Christopher Beier offers insights.
The latest guidance issued by the Federal Financial Institutions Examination Council draws a line of clear distinction between the types of knowledge-based authentication available - from static challenge questions, such as those derived from customer enrollment information, to dynamic KBA sessions that serve as part...
Within the FFIEC Authentication Guidance, one provision - strong authentication - stands out as an opportunity to make security conveniently visible to customers. Join two banking security thought-leaders and a solution provider for insights on:
How to satisfy a crucial FFIEC mandate within the overall layered...
"Organizations are putting in layers of security and tools to safeguard information and assets, however, the fraudsters are attacking our weakest link, the consumer," says Anthony Vitale of Patelco Credit Union.
Since the summer of 2009, financial institutions and their corporate customers have been defrauded by increased incidents of account takeover. These incidents have pitted banks and customers against one another in court, and they were a key impetus behind the release of the new FFIEC Authentication Guidance. So, how...
In the wake of today's evolving threat landscape, the FFIEC recommends a robust, layered security program that includes the use of dual customer authorization through different access devices. Strong authentication when combined with federated SSO (single sign on) standards can strengthen, accelerate, and provide key...
International communication and public-private partnerships are the keys to cybersecurity in the financial space, according to the Department of Homeland Security and the Financial Services - Information Sharing and Analysis Center.
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