This is Encrypted MAC (EMAC), formerly known as Double MAC (DMAC).
Unlike HMAC, which reuses an existing one-way hash function, such as
MD5, SHA-1 or RIPEMD-160, EMAC reuses an existing block cipher to
produce a secure message authentication code (MAC).

Using the block cipher, a message is encrypted in CBC mode. The last
block is taken as the MAC of the message. For fixed-length messages,
this method is provably secure. In reality, however, messages have
arbitrary lengths, and this method is not secure. To make secure MACs
for variable length messages, the last block is encrypted once again
with a different key. The security of this construction has been proved
in the paper, ``CBC MAC for Real-Time Data Sources'' by Erez Petrank
and Charles Rackoff. The security can be proved on the assumption that
the underlying block cipher is pseudo-random.

The performance and key-agility of EMAC are reasonable. EMAC is
preferable for short messages because the block length is smaller
compared to the schemes based on a hash function. EMAC is also chosen
as one of the NESSIE winners for Message Authentication Codes, along
with UMAC, TTMAC and HMAC. The current NESSIE specification chooses the
AES as block cipher.

WWW: http://search.cpan.org/dist/Digest-DMAC/