04:27 AM

Burton Releases Report

Burton Group released a report that analyzes the FFIEC guidance on authentication for Internet banking

SALT LAKE CITY -- Burton Group, an IT research firm focused on in-depth analysis of enterprise infrastructure technologies, released a report that analyzes the Federal Financial Institutions Examination Council (FFIEC) guidance on authentication for Internet banking and recommends three technologies that can mitigate risks of online fraud.

According to Mark Diodati, analyst with Burton Group's Identity and Privacy Strategies service, the consumer authentication market is growing fast, but not all authentication techniques are created equal. He recommends that financial institutions implement risk analytic engines, out-of-band (OOB) identity proofing and anti-phishing services.

Risk analytic engines help identify potentially fraudulent transactions and allow financial institutions to:
- Stop the transaction
- Let the transaction occur, but increase account activity scrutiny
- Initiate identity proofing processes to verify the user's identity

Out-of-band identity proofing provides higher identity assurance. OOB utilizes channels other than the web session to identity-proof the user at key stages of user interaction with the financial institution's website. Diodati points out that other techniques like device identification and digital watermarking, while valuable, depend upon adequate identity proofing.

Anti-phishing services utilize a real-time network to shares current phishing information with all financial institutions that can reject access from known phishing sites. In addition, many services will work with the major Internet service providers (ISPs) to shut down the site and direct users away from phishing sites.

"If implemented properly, these techniques, along with consumer anti-fraud guarantees, will mitigate the risk of fraudulent transactions on a financial institutions website," says Diodati.

Burton Group

Comment  | 
Print  | 
More Insights
Oldest First  |  Newest First  |  Threaded View
Disappearing Act: Dark Reading Caption Contest Winners
Marilyn Cohodas, Community Editor, Dark Reading,  3/12/2018
Microsoft Report Details Different Forms of Cryptominers
Kelly Sheridan, Staff Editor, Dark Reading,  3/13/2018
Who Does What in Cybersecurity at the C-Level
Steve Zurier, Freelance Writer,  3/16/2018
Register for Dark Reading Newsletters
White Papers
Current Issue
How to Cope with the IT Security Skills Shortage
Most enterprises don't have all the in-house skills they need to meet the rising threat from online attackers. Here are some tips on ways to beat the shortage.
Flash Poll
[Strategic Security Report] Navigating the Threat Intelligence Maze
[Strategic Security Report] Navigating the Threat Intelligence Maze
Most enterprises are using threat intel services, but many are still figuring out how to use the data they're collecting. In this Dark Reading survey we give you a look at what they're doing today - and where they hope to go.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
Published: 2017-05-09
NScript in mpengine in Microsoft Malware Protection Engine with Engine Version before 1.1.13704.0, as used in Windows Defender and other products, allows remote attackers to execute arbitrary code or cause a denial of service (type confusion and application crash) via crafted JavaScript code within ...

Published: 2017-05-08
unixsocket.c in lxterminal through 0.3.0 insecurely uses /tmp for a socket file, allowing a local user to cause a denial of service (preventing terminal launch), or possibly have other impact (bypassing terminal access control).

Published: 2017-05-08
A privilege escalation vulnerability in Brocade Fibre Channel SAN products running Brocade Fabric OS (FOS) releases earlier than v7.4.1d and v8.0.1b could allow an authenticated attacker to elevate the privileges of user accounts accessing the system via command line interface. With affected version...

Published: 2017-05-08
Improper checks for unusual or exceptional conditions in Brocade NetIron 05.8.00 and later releases up to and including 06.1.00, when the Management Module is continuously scanned on port 22, may allow attackers to cause a denial of service (crash and reload) of the management module.

Published: 2017-05-08
Nextcloud Server before 11.0.3 is vulnerable to an inadequate escaping leading to a XSS vulnerability in the search module. To be exploitable a user has to write or paste malicious content into the search dialogue.