The Federal Council has issued a guidance for authentication of customer identification. Online banks will be expected to achieve compliance with the guidance by the end of 2006.


The Federal Financial Institutions Examination Council, FFIEC, has issued a guidance, titled, “Authentication in an Internet Banking Environment”.

Banks offering Internet-based financial services, are expected to achieve compliance with the guidance by the end of 2006.

“The guidance describes enhanced authentication methods that regulators expect banks to use when authenticating the identity of customers using the on-line products and services.

Examiners will review this area to determine a financial institution’s progress in complying with this guidance during upcoming examinations.” [source]

To read the complete report, “Authentication in an Internet Banking Environment” click here.

This report is in Pdf format. You will need Adobe Acrobat to read this report. To download a free acrobat reader click here.

 

 

 

 

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