Risk
7/19/2006
04:27 AM
50%
50%

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
Register for Dark Reading Newsletters
White Papers
Cartoon
Current Issue
Flash Poll
Video
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2015-0714
Published: 2015-05-02
Multiple cross-site scripting (XSS) vulnerabilities in Cisco Finesse Server 10.0(1), 10.5(1), 10.6(1), and 11.0(1) allow remote attackers to inject arbitrary web script or HTML via unspecified parameters, aka Bug ID CSCut53595.

CVE-2014-3598
Published: 2015-05-01
The Jpeg2KImagePlugin plugin in Pillow before 2.5.3 allows remote attackers to cause a denial of service via a crafted image.

CVE-2014-8361
Published: 2015-05-01
The miniigd SOAP service in Realtek SDK allows remote attackers to execute arbitrary code via a crafted NewInternalClient request.

CVE-2015-0237
Published: 2015-05-01
Red Hat Enterprise Virtualization (RHEV) Manager before 3.5.1 ignores the permission to deny snapshot creation during live storage migration between domains, which allows remote authenticated users to cause a denial of service (prevent host start) by creating a long snapshot chain.

CVE-2015-0257
Published: 2015-05-01
Red Hat Enterprise Virtualization (RHEV) Manager before 3.5.1 uses weak permissions on the directories shared by the ovirt-engine-dwhd service and a plugin during service startup, which allows local users to obtain sensitive information by reading files in the directory.

Dark Reading Radio
Archived Dark Reading Radio
Join security and risk expert John Pironti and Dark Reading Editor-in-Chief Tim Wilson for a live online discussion of the sea-changing shift in security strategy and the many ways it is affecting IT and business.