On Tuesday, the Federal Financial Institutions Examination Council issued a supplement to its 2005 guidance for financial institutions that let customers conduct transactions online. The goal of the supplement, Authentication in an Internet Banking Environment, is to “reinforce the risk-management framework described in the original guidance, and update the FFIEC member agencies’ supervisory expectations regarding customer authentication, layered security, and other controls in the increasingly hostile online environment,” the FFIEC said in its announcement.
