Tag Archives: FFIEC

US Court Decision is Good News for Banking Customers

July 17, 2012 by Jon Callas     No Comments

Blogmaster Note: This was originally posted on July 17, 2012 to ComputerWorld UK’s Security Spotlight Blog. US ruling has implications for UK over bank’s liability Thefts from a construction company in Sanford, Maine might be the catalyst for much-needed improvements to banking security. The US First Circuit Court of Appeals reversed a decision that said [Read More...]

FFIEC 2011 Quick Take- breaking down layered security

October 25, 2011 by Mike Byrnes     No Comments

A short while ago, I had the chance to speak with Ziff Davis on the FFIEC’s 2011 Guidance update for Internet banking. It was a great opportunity to not only get the word out, but I really enjoyed the challenge of trying to distill the guidance into 10 minutes or less — not an easy task for [Read More...]

Filed Under: Fraud, Identity Assurance Tagged With: podcast

Diving into the FFIEC Guidance & What the Future will Undoubtedly Hold

July 8, 2011 by Mike Byrnes     No Comments

Last week, the FFIEC issued a new supplement to the 2005 “Authentication in an Internet Banking Environment Guidance.” Congratulations to the FFIEC on a well needed update to say the least —  especially considering the incredible advances made in the online criminal community over the past few years and the associated breaches and fraud attacks [Read More...]

Filed Under: Fraud Tagged With: FFIEC Guidence, IdentityGuard, layered security

FFIEC – New Guidance Supplement Hits the streets

June 29, 2011 by Mike Byrnes     No Comments

As alluded to in last week’s blog entry, banking security needs vast improvement.  As a sign that the government is beginning to understand this, the FFIEC announced in a press release today,  a supplement to the “Authentication in an Internet Banking Environment.” The new supplement attempts to establish minimum control expectations for online banking activities [Read More...]

Filed Under: Identity Assurance Tagged With: FFIEC

Are The Tides Finally Turning? Banks will need to step up fraud controls

June 15, 2011 by Mike Byrnes     1 Comment

Last week, I blogged about the unfortunate court ruling on an online bank fraud case that sided with Ocean Bank indicating that had deployed commercially reasonable security controls and their customer – Patco Construction – was ultimately responsible for the fraud since they had agreed to the banks security measures when they signed their contract. For more [Read More...]

Filed Under: Fraud Tagged With: fraud

CAVIET EMPTOR – When it comes to cybercrime, it would seem like the consumer needs to become an expert at assessing how well their bank will measure up…

June 8, 2011 by Mike Byrnes     No Comments

I just read a couple of articles / blogs on the cyber fraud case where Patco Construction is suing their bank, Ocean Bank  for failing to provide appropriate security controls to protect their online account. It appears that Ocean bank customers were the target of advanced malware attacks that hijacked their online credentials and at the end of [Read More...]

Online Fraud When Justin Bieber was 5!

April 11, 2011 by Scott Perry     No Comments

This was an article that I hit upon a month ago that I thought was kind of interesting: Bank Systems & Technology, “Though Hairstyles May Change, Online Banking Fraud Remains the Same.” To be honest, I was initially drawn to the reference to hair styles, since many of my friends and colleagues regularly tease me [Read More...]