WASHINGTON, D.C. — BITS, the business strategy and technology group for the Financial Services Roundtable, is urging its members to adopt what it calls three key e-mail security protocols within the next 18 months.
The group also is urging those financial institutions to continue working with Internet service providers and other organizations combating spam, phishing and e-mail deployed malware. The three protocols are:
oTransport Layer Security (TLS), which automatically authenticates servers and encrypts e-mail messages between servers. oSender Authentication, which validates that received e-mail originates from only the authorized mail servers within a particular domain. Broad implementation should reduce the amount of fraudulent email received by customers who should therefore be less likely to respond to phishing attacks and other malicious email-based attacks. oDomainKeys Identified Mail (DKIM), which authenticates e-mail using digital signatures based on cryptographic keys and algorithms. DKIM helps a receiving institution authenticate senders and validate the authenticity of messages.
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The protocols are outlined in a new white paper titled "The BITS Email Security Toolkit: Protocols and Recommendations for Reducing the Risks." For more information, go to www.bitsinfo.org.
BITS also urges member financial institutions to continue working with Internet Service Providers and other business partners to tackle the problem of unwanted e-mail or spam, phishing and e-mail-deployed malware.
"Implementation of these solutions will not only improve security but will help to restore consumer confidence in e-mail as a channel of communication with financial institutions," says Catherine A. Allen, CEO of BITS.
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