News

09:25 AM
Jonathan Camhi
Jonathan Camhi
Slideshows
Connect Directly
Facebook
Twitter
Google+
RSS
E-Mail
50%
50%

5 Tips to Help Banks Implement E-Payments Security

A list of best practices released by NACHA can help banks secure their electronic payments.
Previous
4 of 6
Next


The FFIEC argues that layered security allows the strength of one control to offset the weakness of another. At a minimum, the FFIEC expects banks to have two key components in a security program: the ability to detect and respond to suspicious activity, and, for commercial accounts, enhanced controls for system administrators. Some of the controls recommended by the FFIEC include dual authorization through multiple devices and policies for dealing with compromised customer devices.

NACHA adds that banks must understand the benefits and drawbacks of different security techniques within a layered program. Banks should be current on new technologies and security regulations. Different techniques might be tailored to different types of accounts, as well. Controls should be based on the behavior patterns found in the account.

[The Cybersecurity Imperative: How Banks Can Combat Cybercrime ]

 

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

Previous
4 of 6
Next
Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Dec. 2, 2014
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.