Online banks are in the process of upgrading their security measures. They will prepare their Web servers to check the place, time and type of connection the consumers use.


Online banks are in the process of upgrading their security measures. They will prepare their Web servers, which the consumers may not even be aware of while using the system. The banks will be able to check the place, time and type of connection the consumers use.

Banks are trying to come up with user friendly devices. With data related to the user’s profile, the software can check out if there are any unusual changes in the place, time or type of connection (high speed or dial up).

The program can ask questions that only the particular consumer is likely to know and confirm the identity. These steps are taken by the banks to comply with the FFIEC guidelines.

The Federal Financial Institutions Examination Council, FFIEC, has already issued a guidance, titled, “Authentication in an Internet Banking Environment”.

Banks offering Internet-based financial services, are expected to achieve compliance with the guidance by the end of 2006.

To read FFIEC report, “Authentication in an Internet Banking Environment” click here.

This report is in Pdf format. You will need Adobe Acrobat to read this report. To download a free acrobat reader click here.

 

 

 

 

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