The Information Security Subcommittee of the Technology Management Committee of the Securities Industry Association (SIA)* provides comments to the Federal Deposit Insurance Corporation (FDIC) on the FDIC’s White Paper on Identity Theft.  The recommendations in the letter include: 1) clarifying the problem to be solved; 2) acknowledging the need to balance customer acceptance and risk with cost and complexity; 3) considering the landscape of threats; and 4) using technology to mitigate account hijacking.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.