Bank Info Security reports that the Federal Financial Institutions Examination Council (FFIEC) is expected to provide new guidance on online banking and strong authentication:
The Federal Financial Institutions Examination Council is expected to issue new security guidance revisiting online banking and strong authentication, according to industry experts who have been involved in recent meetings with the FFIEC.
Gartner Analyst Avivah Litan is quoted, "I got the feeling that the guidance this time will be much more specific, suggesting banks might even be held more accountable in future cases of account takeover. Holding banks financially responsible for accounts would bring about significant change. Some solutions currently in place are more "check the box" solutions, designed primarily to address compliance, but not necessarily to improve security.