5 Tips to Help Banks Implement E-Payments Security

A list of best practices released by NACHA can help banks secure their electronic payments.
September 07, 2012

3. Layered Security Programs

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 ]

Bank Systems & Technology encourages readers to engage in spirited, healthy debate, including taking us to task. However, Bank Systems & Technology moderates all comments posted to our site, and reserves the right to modify or remove any content that it determines to be derogatory, offensive, inflammatory, vulgar, irrelevant/off-topic, racist or obvious marketing/SPAM. Bank Systems & Technology further reserves the right to disable the profile of any commenter participating in said activities.

Disqus Tips To upload an avatar photo, first complete your Disqus profile. | Please read our commenting policy.
< Previous1 2 3 4 5 6 7 Next > 

< Previous1 2 3 4 5 6 7 Next >