Voice and Wireless Communications Present Unique Security Challenges, Regulators Say

Identity Theft
Information Security Technology

Banking via telephone and wireless mobile devices has become an important delivery channel for financial institutions. As with Internet banking, telephones and wireless devices afford great convenience for bank customers, but unfortunately they too are prone to phishing and other forms of attack.

The Federal Financial Institutions Examination Council has made clear that banks need to safeguard all customer channels against fraud. Understanding the risks and the steps to mitigate them can go a long way to securing not only a bank's information, but its reputation as well.

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