Central Bank of Lebanon Issues New Guideline to Combat Financial Cybercrime

In response to the increasing trend of cybercrime activities in Lebanon, the Central Bank has taken a proactive step to protect banking customers. The regulatory body has issued a new guideline, titled “Preventing Financial Cybercrime in Lebanon,” under Circular No.144, which was published on November 28, 2017.

Protecting Your Bank Account from Cyber Attacks

The new guideline aims to educate account holders about measures they can take to secure their bank accounts and safeguard personal information. Here are some key points from the guidelines:

• Access the Central Bank’s website: Account holders are urged to visit the Central Bank’s website and thoroughly read the provided guidelines. They are essential in minimizing the risk of cyber attacks.

• Secure your bank account: The guidelines outline steps account holders can take to secure their bank accounts, such as using strong and unique passwords, avoiding sharing personal information online, and enabling two-factor authentication.

• Report suspected cybercrime: If you find yourself a victim or suspect that you may be a potential target of cybercrime, it is crucial to inform your bank in writing as soon as possible. Prompt reporting enables financial institutions to take appropriate actions to protect their customers and prevent further losses.

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