FFIEC Guidelines – Update Imminent?

Gartner’s Avivah Litan posted last week that there have been recent discussions about the FFIEC guidelines that were most recently updated in 2005.  According to Avivah’s blog, additional updates to these guidelines are “imminent”.

From the fraud prevention side, we’ve seen that criminals have been able to subvert authentication mechanisms at financial institutions for at least a couple of years now.  I hope that the guidelines give banks some clarity on the fact that predictive analytics of website sessions (i.e., looking at the behavior of website sessions) is critical to staunch the current e-crime epidemic.

No matter what, it’s going to be interesting to see what comes from this update.