Identity in Payment, Banking, Transit, Loyalty, Parking

Gemalto offers advice for new FFIEC guidelines

Wednesday, June 15, 2011

In light of the recent data breach at Citibank and the hack at the International Monetary Fund, Gemalto has commented on its blog about what the Federal Financial Institutions Examination Council (FFIEC) should consider as it plans to release a new set of guidelines regarding bank authentication processes.

Since the last set of guidelines came out in 2005, the world has increasingly evolved in its ability to offer online and mobile financial services.

Gemalto believes the FFIEC should prioritize security, enforce stronger consequences when breaches occur and offer extra protection to not-for-profit organizations that are not covered under Reg E.

Read the full blog post here. [end] 

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