Technology companies are introducing new ways to secure payments made electronically, both to confirm that the individual is the legitimate cardholder and to securely transmit payment data when a p
Authentify, a company that offers automated telephone authentication services, has a new weapon against phishing and pharming that uses voice technology.
With regard to recurring payments made using ACH debits, is it necessary to have a signature on file to authorize recurring ACH payments or is an electronic signature/recorded phone call sufficient documentation?
Stonebridge Bank in West Chester, PA is taking security for its online bank customers to a new level. The bank is asking customers to use one of two possible two-tiered methods of identification.
What are the best practices when offering internet banking to CORPORATE accounts? And further, if individuals on these corporate accounts also hold consumer accounts with us, can we allow them to transfer between the corporation and their personal accounts via internet banking?
The FDIC has issued a study on the use of technology to mitigate account-hijacking and other forms of identity theft. The complete study and findings are issued as FIL-132-2004.
Our bank is going to start offering online loan applications for customers to print, fill out and send in for home mortgages. Do we have to give any disclosures out on the Web site to customers printing up a loan application? We will also be taking applications for new accounts online. To stay in compliance with the CIP regulation, will they have to come into the bank for the account to be opened? Do we have to have the disclosures online or can they be given to the customer when the customer comes into the branch?
I understand that E-Sign states that web transactions must be similarly authenticated using a electronic signatures. Electronic signatures include, but are not limited to, digital signatures and security codes. In the case of security codes, will the use of one-time password that is used for the particular user session suffice? The user is prompted to provide a one-time password at the beginning of the session, and once again just before submitting the payment (or debit in the case of NACHA).