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Authenticating Customers

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Are there best practices for authenticating customers who call the bank to inquire on their accounts?

Popular methods I know of include reviewing check images that haven’t been returned or transactions pending and asking how much, to whom, and when, as one example. There is also the ability to put a password on your system that they should know and be able to provide. In its December 2004 publication on Putting an End to Account-Hijacking Identity Theft, the FDIC suggested the use of "shared secrets" which can also help.

First published on 9/04/06

First published on 09/04/2006

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