eWeek: Layered Security Essential Tactic of Latest FFIEC Banking Guidelines

The recent update to the FFIEC guidance pointed out what a few financial institutions learned the hard way. Traditional forms of multi-factor authentication, like challenge questions, will no longer be sufficient to protect online backing and high risk transactions.

“The FFIEC recognized that the threat landscape has evolved and that security measures also need to change,” said Tim Sutton, PhoneFactor CEO. “The FFIEC identified man-in-the-middle attacks and keystroke loggers as ways attackers are circumventing traditional authentication methods,” Sutton said.

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