Training

Governance , Next-Generation Technologies & Secure Development , Privacy

Is Your Device Identification Ready for New FFIEC Guidance?

Is Your Device Identification Ready for New FFIEC Guidance?
Since the FFIEC guidance in 2005 on "Authentication in an Internet Banking Environment" cybercriminals have evolved significantly, leading the FFIEC to release new guidance for protecting your business and your customers from fraud. Learn about smart device identification technologies banks will need to adopt to comply with new FFIEC guidance and meet today's challenges of widespread identity and password theft, botnets, trojans, coupled with new risks introduced by smartphones and the demise of cookies as an authentication method.

This session will address:

  • What smart identification entails;
  • The key limitations of simple identification methods;
  • Why upgrades to current customer device identification are critical;
  • How to initiate transaction authentication and monitoring.

Background

The recent release of FFIEC guidance on authentication heightens focus on the new wave of technologies required to keep up with increasingly sophisticated threats to online banking. However, even before the guidance was finalized, forward-thinking bankers were preparing themselves with new technologies for smart device identification.

The FFIEC's 2005 guidance on "Authentication in an Internet Banking Environment" ushered in a first generation of device identification technologies. Since that time, cybercriminals have evolved to such a degree that they can decommission nuclear reactors, take down governments and steal billions in online consumer transactions. Yet many online bank accounts are still protected by first generation technologies consisting of little more than a password, a cookie and a simple hash of browser and IP attributes.

Customer device identification remains the most cost effective first perimeter of defense for customer authentication. In addition, banks will need to adopt cookieless device identification technologies (smart device identification) as part of a multi-factor strategy to protect new account verification, login authentication and transaction authorization. In combination these solutions will safeguard customer privacy, trust and convenience.

In this webinar, you'll learn about the smart device identification technologies banks will need to adopt to comply with new FFIEC guidance. Specifically how they can address today's challenges of widespread identity and password theft, botnets and trojans, as well as new risks introduced by smartphones and the demise of cookies as an authentication method.

All attendees will receive a complimentary copy of ThreatMetrix' new whitepaper, "Is Your Device Identification Ready for the FFIEC: Smart Device Identification for Online Banking."

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