Internet Banking News
June 1, 1999
I received a report this morning from a banker that just went through an
"Electronic Banking" examination during the regular safety and soundness
examination. The examiners were not concerned with Y2K but the bank's telephone banking
and Internet transactional web site.
The major issues were:
1) The amount of due diligence performed by the Board regarding the service provider of
the transactional banking program and telephone banking program before going
2) The bank's Internet policy.
3) Overall security of the web site and telephone banking.
4) Requesting that the bank performed penetration testing of the web site.
Each of these issues need to be addressed by your Board before the examiners arrive.