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Ongoing Authentication and Identity Lifecycle Management

  1. 3.74Institutions should establish controls and processes to protect Customers and their credentials against vulnerabilities and unauthorized access, disclosure or use in the authentication process and throughout the Identity Lifecycle.
  2. 3.75Institutions deploying Multi-Factor Authentication at login that includes a Biometric factor should consider employing phishing-resistant authenticators where at least one factor relies on public key encryption to secure the Customer authentication process.
  3. 3.76Institutions should implement risk-based or adaptive authentication measures that present Customers with authentication options commensurate with the risk level of the transaction and sensitivity of the information.
  4. 3.77Institutions should implement Multi-Factor Authentication using a Biometric factor, where possible, to authorize high risk activities and protect the integrity of Customer account Data and transaction details. High-risk activities include changes to Personal Data (e.g. Customer office and home address, email and telephone contact details), registration of Third-Party payee details, high value funds transfers and revision of funds transfer limits.
  5. 3.78For Biometric authentication of transactions, Institutions should adopt security measures to ensure the confidentiality, authenticity and integrity of authentication codes, Personal Data and transaction specific information.