Federal banking regulators today released a long-awaited supplement to the 2005 guidelines that describe what banks should be doing to protect e-banking customers from cybercrime, hackers and cyberheists. Experts called the updated guidance a step forward, but were divided over whether it would be adequate to protect small to mid-sized businesses against todays sophisticated online attackers.Fraudsters have continued to develop and deploy more sophisticated, effective, and malicious methods to compromise authentication mechanisms and gain unauthorized access to customers online accounts, the FFIEC wrote. Rapidly growing organized criminal groups have become more specialized in financial fraud and have been successful in compromising an increasing array of controls.
For the complete document click here: Authentication in an Internet Banking Environment
This document illustrates that no matters how well an organization tries to protects itself from external cybercriminals, that because of the human factor (like internal employees) network access can sometimes be gained by the bad guys. You should definitely check the effectiveness of your security. Take a free phishing security test of your company.
Stu Sjouwerman
KnowBe4
