 Federal Financial Institutions Examination Council |
Press Release | ||||||||||||||||||
| For Immediate Release | August 15, 2006 | ||||||||||||||||||
| FFIEC Releases
Frequently Asked Questions on
Guidance Entitled The Federal Financial Institutions Examination Council (FFIEC) member agencies today released a frequently asked questions document (FAQs) to aid in the implementation of the interagency guidance on Authentication in an Internet Banking Environment issued October 12, 2005. The authentication guidance, which applies to both retail and commercial customers, specifically addresses the need for risk-based assessment, customer awareness, and security measures to reliably authenticate customers remotely accessing their financial institutions’ Internet-based financial services. The FAQs are designed to assist financial institutions and their technology service providers in conforming to the guidance by providing information on the scope of the guidance, the timeframe for compliance, risk assessments, and other issues. A copy of the FAQs is attached (PDF). Media Contacts:
The FFIEC was established in March 1979 to prescribe uniform principles,
standards, and report forms and to promote uniformity in the supervision
of financial institutions. The Council has five member agencies:
the Board of Governors of the Federal Reserve System, the Federal
Deposit Insurance Corporation, the National Credit Union Administration,
the Office of the Comptroller of the Currency, and the Office of
Thrift Supervision. The Council's activities are supported by interagency
task forces and by an advisory State Liaison Committee, comprised
of five representatives of state agencies that supervise financial
institutions.
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