Lebanon news: Banking secrecy laws make it difficult to measure security risks

The Lebanon Daily Star has an article about the remarkably low levels of digital security in Lebanese banks, which includes this quote from the director of the Central Bank’s IT department:

“… banking secrecy laws make it difficult to gauge how many banks in Lebanon have been successfully targeted by cybercriminals.”

A security expert interviewed in the article says that

“…some companies in the Middle East had invested so little in information security infrastructure that they might not even be aware when a breach had occurred.”

Lebanon is ranked 7th on the 2013 Financial Secrecy Index.

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