FFIEC Authentication Confuses Banks, CUs. 29 percent of financial leaders say they still don’t understand what regulators want. 88 percent don’t believe conformance will do much to curb online fraud. Banks and credit unions should have been addressing those areas for the last seven years. The updated guidance definitely clarifies a few suggestions, by explaining how an institution might implement multifactor authentication or transaction verification through device identification. The update definitely offers many more details than the guidance issued back in 2005, but the tenets are the same.”]
Source: https://www.cuinfosecurity.com/blogs/ffiec-authentication-confuses-banks-cus-p-1301