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FFIEC Authentication Guidance

Recorded on November 03, 2011

The FFIEC has published a Supplement to the 2005 Guidance entitled "Authentication in an Internet Banking Environment." All financial institutions are expected to comply with this new Guidance beginning in January 2012 when the examiners have been directed to formally assess financial institutions under the enhanced expectation outlined in the Supplement.The supplemental guidance significantly raises the bar pertaining to the responsibilities an institution has in regard to the measure that need to be taken to protect the customer and their data when it comes to using the internet. Simply stated, the FFIEC makes it clear that the financial institution is in the best position to protect the customer and is expected to take appropriate action and employ relevant technology supported with other measures to do so.

This Webinar will assist your organization in understanding the requirements of the Guidance and will aid your organization in developing an updated security process to implement and comply with the new requirements. The Webinar will also address the following:

  • Case Law and Legal Implications of the New Guidance;
  • Background on the 2001 and 2005 Guidance;
  • How your current process and procedures will be the foundation for compliance.
  • Complying with the Agencies' Expectations
  • Risk Assessments
  • Authentication for Retail/Consumer Banking and Business/Commercial Banking
  • Layered Security Programs, the effectiveness of the various programs, and the ease or complexity of implementation of each;
  • Designing an up-to-date security program
  • Developing monitoring approaches (similar to credit card fraud monitoring)
  • New technologies and methods of authentication.
  • Detection and response to suspicious activity;
  • Vendor Assessments;
  • Customer Awareness and Education
  • Reg E Protection for Consumers
  • Customer risk Assessment
  • Customer Risk Control Mechanisms
  • Customer Agreements - What Should be in Your Agreement

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