Why is the extra security desirable?
Perpetrators of online fraud are becoming increasingly sophisticated. By using a security token, the risk of fraud is reduced because individually assigned tokens can only be used in combination with a specific User ID and password. One of the reasons we are doing this now is in response to recent guidance issued by the Federal Financial Institutions Examination Council (FFIEC). Essentially, the FFIEC is calling for banks to provide additional protection for high-risk transactions, such as those that involve moving funds or accessing sensitive customer information. By adding two-factor authentication, we are simply strengthening our ability to offer a high level of protection.
