SC Magazine: FFIEC Guidance Addresses Corporate Account Takeover

SC Magazine’s Dan Kaplan writes about the much anticipated release of the updated FFIEC guidelines, which direct financial institutions to implement layered security for high risk transactions to help mitigate threat.

“Airport security very rapidly evolved after 9/11,” said Tim Sutton, CEO of PhoneFactor, which makes technology that verifies transactions through automated phone calls. “We expect the same transformation to occur with online banking. In a relatively short period of time, we will no longer be able to bank online by simply entering a username and password.”

Read the full article on SCMagazineUS.com.