Audits planned for online banking security compliance
The guidelines advise banks and credit unions to adopt "strong-user authentication measures" for protecting customers against identity theft and other fraud.
Under the FFIEC’s guidelines, banks and credit unions are being asked to implement single-factor authentication processes — typically based on a username and password — with a second form of authentication.
These aren't a formal mandate, but then again, the FFIEC plans to begin auditing financial insitutions for compliance next year.
Where I'm from "auditing for compliance" sounds like a rule to me.
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