Federal Financial Institutions Examination Council (FFIEC) updated its guidance for how financial institutions should plan to authenticate customers online identities by the end of next year. The FFIEC said authentication of a customer via simple password and ID alone is inadequate for high-risk transactions involving access to customer information or the movement of funds to other partners. The new guidance document says it issued due to concerns about phishing, identity theft and online fraud. The document does provide basic descriptions of several technologies, including digital certificates, smart cards, one-time passwords, USB plug-ins, and biometric identification methods.”]