Monday, August 21, 2006

FFIEC Releases FAQ on Authenticaion in an Internet Banking Environment

The Federal Financial Institutions Examination Council (FFIEC) member agencies released a frequently asked questions document (FAQs) to aid in the implementation of the interagency guidance on Authentication in an Internet Banking Environment issued October 12, 2005.

The authentication guidance, which applies to both retail and commercial customers, specifically addresses the need for risk-based assessment, customer awareness, and security measures to reliably authenticate customers remotely accessing their financial institutions’ Internet-based financial services. The FAQs are designed to assist financial institutions and their technology service providers in conforming to the guidance by providing information on the scope of the guidance, the timeframe for compliance, risk assessments, and other issues.

Get the FAQ here.

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