The Federal Financial Institutions Examinations Council onTuesday issued a supplement to its Internet banking authenticationrecommendations.

The new document updates guidance issued in 2005. The FFIEC doesn'trecommend any specific software solutions in the report but said ithas instructed its member agencies, including the NCUA, to formallyassess financial institutions based on the new guidance beginningin January 2012.

“The continued growth of electronic banking and greatersophistication of the associated threats have increased risks forfinancial institutions and their customers. Customers and financialinstitutions have experienced substantial losses from onlineaccount takeovers,” the FFIEC document said.

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