How the updated FFIEC guidance on Internet banking security affects your credit union
WHITE PAPER |
Download the white paper: How the updated FFIEC guidance on Internet banking security affects your credit union
On June 28, 2011, the Federal Financial Institutions Examination Council (FFIEC) issued a supplement to the Authentication in an Internet Banking Environment (the 2005 Guidance) to reinforce the risk management framework described in the original guidance and to update the FFIEC member agencies' supervisory expectations regarding customer authentication, layered security and other controls in the increasingly volatile online environment. The agencies were concerned that customer authentication methods and controls implemented in conformance with the 2005 Guidance had become less effective.
This white paper addresses the ‘need to know' issues raised in the supplement, including those associated with risk assessments, layered security controls, member awareness and education, and preparation for your next regulatory examination.