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Notices

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Cybercrime Prevention

As part of its response to reports of increased hacking activity around the globe, which appears to be targeting both individuals and corporate entities in order to steal personal and private information, Byblos Bank has detected attempts by various hackers to access e-mail details and account information.

 

These hackers have been unable to access username/password combinations from any Byblos Bank system or database because our systems are fully protected and we conduct regular assessments to confirm the security of our  processes and banking information. The hackers appear to be using combinations gathered from elsewhere in an attempt to gain access to e-mail details and information, then route victims’ payment orders to Banks’ accounts used and operated by fraudsters.

 

While Byblos Bank has great confidence in the security of its cyber-security systems and protocols, we also believe our customers should be reminded of these issues. As a precautionary measure, therefore, we are taking action now by issuing this warning and recommending the following tips to better protect yourself against the risks of information theft or fraud:

 
  • Protect your computers with anti-virus software and update it regularly;
  • Be sure to scan all USBs and other devices before they are connected to your network;
  • Never share your passwords with anyone;
  • Make your passwords memorable instead of writing them down;
  • Change your passwords on a regular basis and avoid obvious passwords;
  • Never leave your computer unattended;
  • Always sign out / log off when your transactions are complete;
  • Beware of suspicious or unfamiliar websites;
  • Never use public computers for banking or commercial activities;
  • Be alert for any sudden modification of your correspondent / counterparty  details  name, bank account, address, phone number, etc.) and always confirm any change with a phone call.

 

Further to Central Bank Circular 144/2017, we also urge you to refer to the attached advisory guide relating to Cybercrime Prevention. This guide helps financial institutions guard against the growing number of hacking threats, including email fraud schemes, in which criminals misappropriate funds by deceiving financial institutions and their customers into conducting wire transfers.

It also suggests red flags to look for, as well as corrective actions – developed in consultation with the Special Investigation Commission (SIC), the Association of Banks in Lebanon (ABL), and the Internal Security Forces (ISF) – to support financial institutions in identifying and preventing email fraud schemes.

 

Always keep in mind that basic security can help prevent dangerous and expensive data breaches, and give you the safety you deserve.