Training

Next-Generation Technologies & Secure Development

FFIEC Authentication: The Myths and Truths of Anomaly Detection

FFIEC Authentication: The Myths and Truths of Anomaly Detection
On page five of the 2011 FFIEC Authentication Guidance Supplement, the Agencies state that an institution's layered security should include the ability to detect anomalies and effectively respond to suspicious or anomalous activity. Anomaly detection is a proven approach to defending against the array of threats facing online banking and institutions using anomaly detection today are experiencing a wide range of business and operational benefits. This presentation will provide a practical view of anomaly detection from experts who have designed and implemented anomaly detection solutions at a broad array of institutions.

In a unique Q&A format, the presenters will provide rich details on:

  • What anomaly detection is and how it identifies compromise and fraudulent wire, ACH, bill pay and external transfer fraud in the fact of current and future threats
  • How to technically and operationally implement anomaly detection
  • Real-world case studies illustrating operational and fraud prevention successes
  • Answers to the most common questions about anomaly detection

Background

In response to the evolving threats against online banking and the growth in fraud stemming from the online channel, the FFIEC updated its guidance to financial institutions on Internet Banking security. The guidance raised the bar for risk assessments, layered security and customer education.

In the 2011 Guidance, the Agencies are very specific about the need for layered security and provide explicit directions for the minimum elements every layered security stack should have. One page five of the 2011 FFIEC Authentication Guidance Supplement, the Agencies state that an institution's layered security should include the ability to detect anomalies and effectively respond to suspicious or anomalous activity. In their discussion of the requirements, the Agencies comment'

Anomaly detection is a proven approach to defending against the array of threats facing online banking. Institutions of all sizes on a variety of different platforms are successfully using anomaly detection to address today's sophisticated threats including Man-in-the-Browser threats.

This presentation will provide a practical view of anomaly detection from experts Craig Priess and Terry Austin. In a unique Q&A format, the presenters will cover the most commonly asked questions about anomaly detection. Their discussion will cover:

  • Why anomaly detection has been so successful at stopping online fraud;
  • Real-world fraud cases stopped by anomaly detection;
  • How anomaly detection compliments other security solutions;
  • Time and effort required to implement anomaly detection solutions;
  • Operational considerations;
  • ROI drivers for anomaly detection.

Webinar Registration

This webinar is available OnDemand.

View Now


Around the Network

Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing inforisktoday.co.uk, you agree to our use of cookies.