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FFIEC issues additional guidance on mobile banking

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FFIEC issues additional guidance on mobile banking

The Federal Financial Institutions Examination Council issuedadditional guidance on mobile banking designed to guide examiners in evaluatingthe risks associated with mobile financial services.

According to an April 29 news release, the new appendix emphasizesan enterprisewide risk management approach in risk mitigation and management ofmobile financial services, and examines possible risks and appropriate controlsfor third-party mobile delivery channel technologies. In addition, examiners arealso guided in determining risks and evaluating the controls related to mobile financialservices.