The Federal Financial Institutions Examination Council (FFIEC) released a supplement (June 28, 2011) to their authentication in an Internet banking environment guidance which was previously issued in 2005.
According to the FFEIC, need for this update is due to the the growth and sophistication of attacks from hackers which have increased the risks for financial institutions and their customers resulting in substantial losses. The FFEIC is calling for increased, effective security for financial institutions to safeguard customer information, reduce fraud from identity theft, and promote the legal enforceability of financial institutions’ electronic agreements and transactions.
The purpose of this supplement was to reinforce the risk-management technology framework and to provide customer authentication via layered security (Multi-Factor Authentication: MFA) that should exceed controls applicable to routine business customer uses i.e. transaction verification or additional authentication prior to gaining access.
Biometric Signature ID Patented Solutions Exceed Requirements
Jeff Maynard CEO of Biometric Signature ID Participates at IDESG Conference for Online Privacy
Jeff Maynard CEO of Biometric Signature ID Participates at IDESG Conference for Online Privacy Dallas May 10, 2013. Biometric Signature ID (BSI) CEO Jeff Maynard attended the Identity Ecosystem Steering Committee Group (IDESG) meeting this week to take part in discussions about online privacy and its continuous importance in cyberspace. The meeting held in Santa [...]
NSTIC-led ID plan earmarks $4 million to secure state government services
The two-year-old initiative to create an identity layer for the internet is backing a set of projects aimed at creating identity-based security to support state and local government services online. Read More
Gesture Recognition & Touch-less Sensing Market Worth $12.21 Billion by 2018
According to a new market research report Gesture Recognition & Touchless Sensing Market (2013 – 2018): By Technology (RFID, IR, Capacitive); Product (Biometric, Gaming, Smartphone); Application (Healthcare, Consumer Electronics, Automotive); Geography (Americas, EMEA, & APAC), the total touchless sensing and gesture recognition market is expected to reach $15.02 billion by 2018 growing at a CAGR of 34.94% from 2013 to 2018. [...]
Two-Step Verification Will End Consensual Impersonation
A couple of months back, I advocated killing your password policies and applying some other techniques instead to make existing use of passwords more effective (including my hobby horse: take the user-experience sting out of rotating ordinary static passwords by pushing them out to users on an alternate channel, à la activation codes and other [...]
Click and Go Vote: PA politician proposes online registration
HARRISBURG — It’s possible in these days of instant connectivity to monitor nearly every financial, physical and social transaction using the Internet – from banking to travel, and from dieting to dinner reservations. Read More