Too many banks and credit unions are being narrow-minded in their approaches to FFIEC Authentication Guidance conformance, by focusing on commercial accounts and neglecting retail accounts, one ACH fraud attorney says.
"People appreciate being contacted when particular transactions look risky," says Peter Tapling, President and CEO of Authentify. "Out-of-band authentication provides the opportunity to do that in real-time, at very low cost to the institutions."
What are the top emerging fraud threats via mobile banking, and how must security leaders respond? In an RSA Conference preview, Julie McNelley of the Aite Group offers tips for fighting the newest threats.