ISO 19092-1

ISO 19092-1 Financial Services - Biometrics - Part 1: Security framework, is an ISO standard and describes the adequate information management security controls and the proper procedures for using biometrics as an authentication mechanism for secure remote electronic access or local physical access controls for the financial and other critical infrastructure industries.

The standard also provides a useful tutorial on biometric systems and technology, describes the physical security requirements of biometric devices, the minimal content for Biometric Policy (BP) and Biometric Practice Statements (BPS), and secure event journal content for review and audit of biometric systems.

It is followed by ISO 19092 Financial Services - Biometrics - Part 2: Message syntax and cryptographic requirements.

Bank regulation

Bank regulation is a form of government regulation which subjects banks to certain requirements, restrictions and guidelines, designed to create market transparency between banking institutions and the individuals and corporations with whom they conduct business, among other things. As regulation focusing on key actors in the financial markets, it forms one of the three components of financial law, the other two being case law and self-regulating market practices.Given the interconnectedness of the banking industry and the reliance that the national (and global) economy hold on banks, it is important for regulatory agencies to maintain control over the standardized practices of these institutions. Supporters of such regulation often base their arguments on the "too big to fail" notion. This holds that many financial institutions (particularly investment banks with a commercial arm) hold too much control over the economy to fail without enormous consequences. This is the premise for government bailouts, in which government financial assistance is provided to banks or other financial institutions who appear to be on the brink of collapse. The belief is that without this aid, the crippled banks would not only become bankrupt, but would create rippling effects throughout the economy leading to systemic failure. Compliance with bank regulations is verified by personnel known as bank examiners.

ISO 19092-2

ISO 19092 Financial Services - Biometrics - Part 2: Message syntax and cryptographic requirements is an ISO standard that describes the techniques, protocols, cryptographic requirements, and syntax for using biometrics as an identification and verification mechanism in a wide variety of security applications in the financial industry. This standard provides support for policy based matching decisions for remote authentication and allows biometrics to be used securely with the ISO 8583 retail transaction messaging standard. A secure review and audit event journal syntax is provided that allows many of the security controls specified in ISO 19092-1 to be implemented.

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