What is Multi-Factor Authentication Security and why is it necessary?
Multi-Factor authentication is a new feature for online account access and online applications that gives you and your accounts an additional layer of protection from fraud by using more than one method to confirm your identity. The Federal Financial Institutions Examination Council (FFIEC) has determined that the security provided by a single sign-on password may be defeated with new technology being employed by high-tech hackers of today. In response, regulators have mandated that enhanced security precautions be implemented to increase online safety and make accounts more secure while preventing spoofing attempts by look-a-like websites.
