Transcription of Authentication in an Internet Banking Environment
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Federal Financial Institutions Examination Council 3501 Fairfax Drive Room 3086 Arlington, VA 22226-3550 (703) 516-5588 FAX (703) 516-5487 Authentication in an Internet Banking Environment Purpose On August 8, 2001, the FFIEC agencies1 (agencies) issued guidance entitled Authentication in an Electronic Banking Environment (2001 Guidance). The 2001 Guidance focused on risk management controls necessary to authenticate the identity of retail and commercial customers accessing Internet -based financial services.
techniques associated with the Internet delivery channel, the principles are applicable to all forms of electronic banking activities. Summary of Key Points The agencies consider single-factor authentication, as the only control mechanism, to be inadequate for high-risk transactions involving access to customer information or the
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