- by Chris Ryan
This is last question in our five-part series on the FFIEC guidance on what it means to Internet banking, what you need to know and how to prepare for the January 2012 deadline.
Q: How are organizations responding?
Experian estimates that less than half of the institutions impacted by this guidance are prepared for the examinations. Many of the fraud tools in the marketplace, particularly those that are used to authenticate individuals were deployed as point-solutions. Few support the need for a feedback loop to identify vulnerabilities, or the ability to employ a risk-based, “layered” approach that the guidance is seeking.
This is the last of our five-part series but we're happy to answer more questions as we know you need to know how to prepare for the January 2012 deadline. So if you have a related question, ask away by submitting in the comments field below, and we'll do our best to answer quickly. Or, if you would prefer to speak with one of our Fraud Business Consultants directly, complete a contact form and we'll follow up promptly.