Week In Review for Friday, March 4, 2011

AML concerns heat up, as FinCEN warns U.S. institutions to scrutinize accounts held by foreign political figures. And the unofficial release of an FFIEC draft about online authentication guidance opens regulators to more feedback and criticism.Here's a list of some of this week's most compelling content on
  • AML Scrutiny Heightened. Political upheaval in Libya and Egypt spurred the Treasury's Financial Crimes Enforcement Network to issue alerts last month, recommending U.S. banking institutions closely monitor accounts held by foreign political figures in Libya and Egypt;
  • Did Disclosure Delay Guidance? We learned this week that expected updates to online authentication guidance issued by the Federal Financial Institutions Examination Council were inadvertently leaked after one of the FFIEC's five regulatory agencies posted the pending guidance on its website. Now industry pundits wonder when and if the actual guidance updates will officially be issued; and
  • The Problem with Multifactor Authentication. At a time when U.S. banking regulators are on the verge of handing down new authentication guidance, Rik Ferguson of Trend Micro says banking institutions are not authenticating the right things.

Please listen to this roundup, and check out all of the month's and week's news and views on

Around the Network

Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing, you agree to our use of cookies.