Financial institutions that truly want to bolster their online security need to look beyond the federal guidelines on end-user authentication that go into effect Jan. 1, IT managers and analysts said last week. The guidelines, issued last year by the Federal Financial Institutions Examination Council (FFIEC), call on banks and credit unions to adopt so-called strong authentication measures for protecting online customers against identity theft and other types of fraud. Strong authentication certainly isnt a silver bullet, said Melissa Auchter, CIO at Parda Federal Credit Union in Rochester, Mich. It just protects one doorway. Its one more measure in a comprehensive approach to protecting the assets of our members.<\/p>\n","protected":false},"excerpt":{"rendered":"
For the past year, the University of Wisconsin Credit Union in Madison has been using software from Corillian Corp. to authenticate its online users during log-in and, to a limited extent, in the transaction stage. Eric Bangerter, the credit unions director of Internet services, said the software lets the financial institution profile users systems and online behavior and then challenge them to provide extra proof of their identity if any changes from the norm are detected. The credit union also plans to add a stronger out-of-band process, in which automated phone calls will be made to account holders if theres still reason to doubt their identity, Bangerter said.<\/p>\n
Chad Graves, vice president of IT at Ent Federal Credit Union in Colorado Springs, said the FFIECs guidelines should be adequate for dealing with current threats such as phishing. But he said that Ent Federal may have to add transaction-level controls if it decides to support electronic clearinghouse or wire-transfer transactions.<\/p>\n
http:\/\/www.computerworld.com\/action\/article.do?command=viewArticleBasic&taxonomyName=security&articleId=274881<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-363","post","type-post","status-publish","format-standard","hentry","category-financial"],"_links":{"self":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=363"}],"version-history":[{"count":1,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/363\/revisions"}],"predecessor-version":[{"id":2850,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/363\/revisions\/2850"}],"wp:attachment":[{"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cybersecurityinstitute.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}