Zions Bank President Lee Carter voiced optimism about the multifactor authentication guidance. The panel noted that phishing attacks were up an estimated 40 percent in the last year, and thought that this may point to phishers trying to get in as many attacks as possible before institutions implement the stronger authentication for their customers. A less dramatic movement toward mutual authentication, and encryption, may be possible next steps, noted panelist Doug Johnson, senior policy analyst for the American Banking Association, noted that regulatory agencies gave signals two years before this guidance came out.”]
Source: https://www.cuinfosecurity.com/multi-factor-authentication-takes-hold-a-401