2012 Faces of Fraud Survey: Complying with the FFIEC Guidance

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U.S. banking institutions have money to spend, but do they know where best to invest it? That's the question begged by the results of the 2012 Faces of Fraud Survey results.

Following a year of high-profile fraud incidents, anti-fraud budgets have been fattened. Asked how their fraud resources will change in the coming year, 58% of respondents expect an increase. This figure is up from 34% in 2010.

How will your fraud resources change in the coming year?

Yet, in a year when U.S. banking institutions are expected to conform to the FFIEC Authentication Guidance, respondents also say:

  • Only 11% have come into conformance since the update was issued;
  • 29% don't fully understand the guidance's expectations;
  • Just 12% foresee a significant reduction in online fraud as a result of the guidance.

So, where are institutions spending their money? This is the question answered in analyzed in our survey webinar, 2012 Faces of Fraud Survey: Complying with the FFIEC Guidance.

To attend the webinar, follow the link below.

Survey Results Webinar

2012 Faces of Fraud Survey: Complying with the FFIEC Guidance

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The FFIEC Authentication Guidance update has been in circulation since mid-2011. But as banking examiners begin testing for conformance, we find:

  • Only 11% of surveyed institutions have come into conformance since the guidance was issued;
  • Nearly 30% don't fully understand the guidance;
  • 88% do not believe the guidance will result in a significant reduction of online fraud.

Register for this webinar now »

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