FFIEC Authentication Guidance , Standards, Regulations & Compliance

Beyond the FFIEC Authentication Guidance: Prepare for Future Threats

Beyond the FFIEC Authentication Guidance: Prepare for Future Threats
Cyber crime against financial institutions has evolved dramatically since 2005. This evolution is what inspired the FFIEC Authentication Guidance update. But how will cyber threats evolve in the years ahead and what can banking institutions do today to protect themselves tomorrow?

Join banking security experts and a former banking regulator to learn what financial institutions must be doing today to ensure data and transaction security tomorrow.

View this webinar to learn:

  • What FIs need to do before the deadline to conform with the new guidance;
  • Why the leaders in the banking space are taking the initiative to go above and beyond the guidance recommendations;
  • Why compliance does not equal true security: what FIs should be doing to achieve real security.

See Also: OnDemand | Authentication Advances In Banking


Several recent cases involving ACH-related fraud and corporate account takeover have proved once again that cyber crime in the electronic banking environment is still a reality despite the security measures implemented over the years. The explanation is simple: cyber crime against financial institutions and customers is evolving almost daily while the regulation is often lagging behind. With millions of dollars lost to e-banking fraud every year, many FIs are now looking hard at their security practices as well as their vendor recommendations and the new Authentication Guidance Supplement. Is the guidance compliancy a guarantee of security?

The Second Annual Cost of Cyber Crime Study, conducted by the Ponemon Institute, revealed that the median annualized cost of cybercrime is $5.9 million a year, which is 56 percent higher than the year before. The organizations are paying anywhere from $1.5 million to $36.5 million a year to combat cyber crime, according to the study.

As a financial institution, how can you minimize your risk and your customers' risk of becoming victims of cyber crime? Does the new Authentication Guidance offer enough direction for future-proof security? Surely, being in compliance with the guidance will help you today, but what about the future? Cyber attacks are evolving daily urging the banks to focus on a proactive rather than a reactive approach to security.

How vulnerable is your institution to the next man-in-the-middle attack? Are you prepared to handle real-time attacks? Will community banks and credit unions become targets? In order to implement a successful security strategy, it is imperative to have a thorough understanding of the cyber attacks' mechanisms and the protection offered by common technology solutions.

In this 60-minute session, you will hear the recommendations from the industry experts on how to implement adequate security mechanisms to protect your institution and your customers from cyber fraud and future-proof your security including:

  • The new guidance and recommended strategies for protecting commercial/retail customers:
    • What to do and when to start;
  • A case study presented by Bank of America about their best practices in securing commercial e-banking customers: above and beyond the guidance
  • Evolving fraud and required countermeasures: how to ensure true, future-proof security
    • Mn-in-the-Middle and Man-in-the-Browser delivery mechanisms and risks
    • Out-of-band authentication: myth vs fact
    • Transaction signatures
    • Layered approach

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