Podcast: What is FFIEC compliance?

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In this WhatIs.com podcast, you'll learn about this attempt to modernize existing banking practices in the context of new online threats like phishing. To learn more about FFIEC compliance, Assistant Site Editor Alex Howard interviewed Patrick Audley, the CTO of risk adaptive software provider Cogneto.

In this podcast, you will learn the answers to the following questions:

• How does implementation of FFIEC recommendations change the ways that customers use a bank?
• What’s the difference between single factor and multiple factor authentication? What is a factor in authentication?
• Under FFIEC guidance, is a fingerprint or iris scanner or voice recognition system sufficient authentication?
• How is dynamic reporting being used to decrease the incidence of fraud What is realtime risk analysis?
• Are there any penalties for non-compliance?
• Where are the majority of funds stolen in phishing attacks?

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RELATED CONTENT For financial firms, numerous compliance requirements demand baseline controls A consistent compliance program that adheres to basic principles can ease the compliance process.

RELATED GLOSSARY TERMS Terms from Whatis.com − the technology online dictionary FFIEC compliance  (SearchFinancialSecurity.com) FFIEC compliance is conformance to a set of standards for online banking issued in October 2005 by the Federal Financial Institutions Examination...