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Tags >> FFIEC
Jan 06
2012

5 FFIEC Compliance Tips For Banks

Posted by Robert Siciliano in FFIEC

Robert Siciliano

Experian’s Chris Ryan addressed five major questions about compliance with the FFIEC’s recent guidance on banking authentication. What follows are his responses, summarized:

Sep 07
2011

The FFIEC Wants You to Know…

Posted by Robert Siciliano in FFIEC

Robert Siciliano

The Federal Financial Institutions Examination Council recently released a supplement to the guide it issued in 2005, on authentication in an Internet banking environment. One of the FFIEC’s key recommendations for eliminating fraud is consumer awareness and education.

Aug 26
2011

Bad News For Banks: Courts Side With Customers

Posted by Robert Siciliano in FFIEC

Robert Siciliano

Who is responsible for financial losses due to fraud? The bank, or the customers whose accounts have been drained?

Aug 09
2011

Financial Institutions Can Protect Their Clients Using “Defense in Depth”

Posted by Robert Siciliano in FFIEC

Robert Siciliano

Back in 2005, the Federal Financial Institutions Examination Council (FFIEC) made security recommendations for banks and financial institutions in response to the increase of cybercrime. Since then, banks have implemented most, if not all, of these guidelines, and cyber criminals have responded by challenging each layer of security, by exploiting different technologies or coming up with new hacking techniques.

Aug 03
2011

FFIEC Mandates “System Of Layered Security” to Combat Fraud

Posted by Robert Siciliano in IT Security , Fraud , FFIEC , Federal Government

Robert Siciliano

For any cave-dwelling, living-under-a-rock, head-in-the-sand, naïve, under-informed members of society who aren’t paying attention, we have serious cyber-security issues on our hands.

Black hat hackers, who break into networks to steal for financial gain, are wreaking havoc on banks, retailers, online gaming websites, and social media. Black hats cost these companies and their clients billions of dollars every year. They are using stolen usernames and passwords to transfer money through wire transfers, Automated Clearing House (ACH) and through billing fraud.

Jul 14
2011

What The FFIEC Is Doing to Protect You and Your Bank

Posted by Robert Siciliano in FFIEC , Bank Fraud

Robert Siciliano

FFIEC is the Federal Financial Institutions Examination Council which is a government body empowered to prescribe uniform principles, standards and report forms for the federal examination of financial institutions by and for numerous other government, public, private and financial entities.


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