"The FFIEC guidance does a good job of addressing today's and yesterday's threats and suggested techniques, but it is not sufficiently forward-looking," says Gartner's Avivah Litan. "Two years from now, the guidance will be sorely out of date."
For all the latest news and views, please visit the FFIEC Authentication Guidance Resource Center.
Aite's Julie McNelley says the final FFIEC online authentication guidance offers greater detail in areas such as layered security, but that institutions have much to do to prepare for regulatory assessments in 2012.
The Federal Financial Institutions Examination Council has formally released the long-awaited update to its "Authentication in an Internet Banking Environment" guidance. The new directives take effect January 2012.
The Final FFIEC Guidance has been issued and its main intent is to reinforce the 2005 Guidance's risk management framework and update the Agencies' expectations regarding customer authentication, layered security, or other controls in the increasingly hostile online environment.
Minnesota faces a government shutdown Friday, and state CISO Chris Buse confronts unexpected barriers in preparing for it. No one yet knows what services the IT security organization must support once the midnight deadline passes.
The release of the list coincides with the issuance of the Common Weakness Scoring System that allows software makers to identify vulnerabilities in their programs and buyers to determine software they acquire is secure.
SafeNet CEO Chris Fedde says top executives, not chief information or chief information security officers, should have final say on what data to encrypt.
Online and mobile banking are taking the world by storm - especially in the Asia-Pacific region. But many institutions are simply not prepared to manage security and privacy appropriately in these venues, says Gartner's Matthew Cheung.
Not all shootings, fires and accidents are of equal import, regardless of the dramatic visuals they may produce. The same can be said about information security breaches.
Organizations are starting to adapt to cloud computing, but they're hesitant about placing their core assets in the online environment, according to results from the 2011 ISACA IT Risk/Reward Barometer.
"While securing energy, financial, health and other resources remain vital, the future of the innovation and the economy will depend on the success of Internet companies and ensuring that these companies are trusted and secure is essential," Commerce Secretary Gary Locke says.
No one is really sure when the FFIEC's new authentication guidance will be issued, but we do know banking institutions can't afford to wait. Hence, our new FFIEC Authentication Guidance Resource Center.
Information Security Media Group announces the launch of FFIEC Authentication Guidance, a resource center dedicated to providing in-depth news and views on the pending online authentication guidance.
The three most common findings during an IT security examination are vendor management issues, a need for improved wire transfer controls, and necessary updates to risk assessments, says Phillip Hinkle, Chief IT Security Examiner for the Texas Department of Banking.
Recent hacks have uncovered security vulnerabilities that should have been addressed years ago. "These attacks are going to escalate," says Josh Corman of The 451 Group. But organizations can implement basic steps to make the hackers' job harder.
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