BankInfoSecurity.com Month in Review for Feb. 2011

A preliminary draft of new authentication guidance puts greater responsibility on financial institutions, and the ACH/wire fraud case between Experi-Metal Inc. and Comerica Bank marks the first major corporate account takeover incident to hit a courtroom.Among the top Feb. news features:
  • First Look: New Authentication Guidance. -- The FFIEC has yet to officially release its long-awaited update to 2005's authentication guidance, but a December draft of the guidance, entitled "Interagency Supplement to Authentication in an Internet Banking Environment" calls for five key areas of improvement.
  • ACH Fraud on Trial. -- Experi-Metal Inc. and Comerica Bank appeared before the U.S. District Court of Michigan to debate how much responsibility EMI should assume for the takeover of its bank account with Comerica.

After listening to this overview, be sure to check out all of our news and views at BankInfosecurity.com




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