The Federal Financial Institutions Examination Council (FFIEC) may soon release new guidelines for banks to follow in authenticating users.

"The new guidelines will clarify the FFIEC's existing guidelines on the subject and more explicitly inform banks about what they need to do to bolster online authentication, said Avivah Litan, an analyst at Gartner," writes Computerworld's Jaikumar Vijayan.

"News of the proposed revisions come amid growing concerns about the ability of cyber criminals to circumvent the existing authentication mechanisms used by banks for online transactions," Vijayan writes. "Over the past two years there have been a string of attacks, mostly against small and medium businesses, by cyber criminals using stolen banking credentials to plunder corporate accounts."

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