ACH- and wire-related fraud incidents have targeted small business customers in the past 18 months. The Federal Financial Institutions Examination Council’s online authentication guidance has been widely circulated throughout the industry. Julie McNelley, a financial fraud analyst for Aite Group, says banking institutions cannot wait to begin moving forward with new technology investments and strategic planning aimed at curbing fraud. “They can’t afford to suffer from fraud that might result from not doing more,” she says of banks and credit unions.”]
Source: https://www.devicesecurity.io/ffiec-guidance-2011-focus-on-awareness-a-3684