Compliance Training for Employees: Key in Fighting Cybercrimes in Lebanon
As cybercrimes continue to plague financial institutions across Lebanon, experts warn that bank hacking attempts are likely to increase. In response, the Central Bank of Lebanon (BDL) has issued Circular N° 144 “Prevention of Cybercrime” to ensure the integrity of the Lebanese payments system.
Implementing Robust Cyber-Security Systems
The Institute of Bankers and Dealers in Securities and Assets (IBDAA), a leading financial institution in Lebanon, has implemented robust cyber-security systems and protocols to protect its databases. To further prevent cyber-attacks, IBDAA has developed a comprehensive guide on cybercrime prevention, in collaboration with the Special Investigation Commission (SIC), the Association of Banks in Lebanon (ABL), and the Internal Security Forces (ISF).
Essential Tips for Cybercrime Prevention
The guide provides essential tips for employees and customers to follow during banking operations, aimed at protecting themselves against cyber-attacks. These preventive measures include:
- Creating a specific email account for banking operations and keeping it private
- Avoiding clicking on suspicious links or attachments
- Confirming changes in correspondent/counterparty details through phone calls
- Being cautious of emails containing unfamiliar information or instructions
- Using genuine anti-virus software and updating it regularly
- Scanning all USBs and devices before connecting them to the network
- Creating strong, unique passwords and changing them frequently
- Locking computers when leaving a workstation
- Avoiding using public computers for financial activities
Employee Compliance Training
By adhering to these guidelines, employees can play a crucial role in preventing cybercrimes and ensuring the security of financial transactions. As part of its commitment to compliance training, IBDAA urges all employees to familiarize themselves with the attached guide and adhere to its recommendations.
Staying Vigilant Against Cybercrime
In light of the growing threat of cybercrime, it is essential for financial institutions and customers alike to stay vigilant and take proactive measures to protect against these criminal activities. By working together, we can ensure a safer and more secure financial landscape in Lebanon.