{"id":4735,"date":"2012-02-17T14:22:00","date_gmt":"2012-02-17T14:22:00","guid":{"rendered":"https:\/\/evssolutions.com\/cross-checking-fraud-prevention-for-ffiec-compliance\/"},"modified":"2012-02-17T14:22:00","modified_gmt":"2012-02-17T14:22:00","slug":"cross-checking-fraud-prevention-for-ffiec-compliance","status":"publish","type":"post","link":"https:\/\/evssolutions.com\/insights\/cross-checking-fraud-prevention-for-ffiec-compliance\/","title":{"rendered":"Cross-Checking Fraud Prevention for FFIEC Compliance"},"content":{"rendered":"

One of the biggest challenges, not just in fraud prevention but
\nalso in business all together, is being able to assess the big picture. Businesses
\ntend to identify and address issues in silos, neglecting to see a holistic
\nsolution. This can cause gaps in protection against identity fraud and ID
\ntheft. <\/span>These gaps can then cause a
\nbreak down in complying with the new FFIEC regulations<\/a>. When dealing with fraud prevention, many financial institutions<\/a> forget that customers use multiple channels to access their
\ninformation and therefore need id verification<\/a> and authentication for each one these channels.<\/p>\n

<\/p>\n

In an interview with George Tubin<\/a>,
\nhe discusses the importance of looking at the entire relationship between company
\nand fraud prevention<\/a>. He states that institutions must look ahead by getting the
\nentire organization involved in the effort against fraud. When dealing with
\ndifferent channels, organizations big and small alike must remember to cross
\ncheck and make sure goals across each medium are consistent. Today with online
\nbanking, mobile payments, social payments<\/a>, etc… businesses face that many more threats. If each channel
\nis being addressed independently, they may not align. It is much like a fraud
\nprevention supply chain, where companies must look at each link and how it
\naffects the entire system.<\/p>\n

To ensure complete FFIEC compliance<\/a>, make sure to evaluate your entire fraud prevention strategy.
\nThat includes having the conversation with any third party vendors and your
\nvendors vendor. Often times, companies have a very in-depth security process
\nand dont even realize all parties involved. Cross-checking security across all
\nchannels used by the consumers will also help to improve overall compliance
\nwith the new FFIEC regulations.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the biggest challenges, not just in fraud prevention but also in business all together, is being able to assess the big picture. Businesses tend to identify and address issues in silos, neglecting to see a holistic solution…<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[40,34,35],"tags":[],"class_list":["post-4735","post","type-post","status-publish","format-standard","hentry","category-compliance","category-fraud-prevention","category-identity-verification"],"acf":[],"_links":{"self":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/comments?post=4735"}],"version-history":[{"count":0,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4735\/revisions"}],"wp:attachment":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/media?parent=4735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/categories?post=4735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/tags?post=4735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}