The widespread use of the internet has been accompanied by a rapid expansion in the volume of digital commercial and banking transactions, a trend expected to grow even further in the coming years, especially with the entry of the internet and mobility into a new era of growth and proliferation.
However, this increased reliance on the Internet in commerce, services and banking transactions, has led to the emergence of fraud and piracy that affect banks, companies and individuals alike and lead to huge and growing economic losses. More often than not, these cyber crimes are being carried out by organized criminal networks that have become highly experienced in the technical, commercial, banking, and even psychological aspects of the crime.
Lebanon is not immune to this type of crimes; in fact, it is more exposed to it given the nature of its open economy as well as the widespread use of the Internet and related digital channels. Studies and analysis of cases filed with the Special Investigation Commission (SIC) of the Central Bank of Lebanon, as well as with the Cybercrime and Intellectual Property Bureau of the Directorate General of the Internal Security Forces, show that incidences of cybercrimes and related losses have been on the rise in the past three years.
In this context, and with aim of shedding the light on Cybercrime in Lebanon, identifying preventative measures, and, increasing public awareness on the subject, the Special Investigation Commission (SIC) of the Central Bank of Lebanon and the Cybercrime and the Intellectual Property Bureau of the Directorate General of the Internal Security Forces, in collaboration with Al Iktissad Wal- Aamal group organized the Anti-Cybercrime Forum on “Fighting Digital Fraud and Piracy in the Banking and Commercial Sectors in Lebanon”.
The Forum was held on the 12th of November 2015 at the Four Seasons Hotel Beirut, under the patronage of His Excellency the Governor of the Central Bank of Lebanon Mr. Riad SALAMÉ, and with the participation of over 500 bankers, members of police and security forces, legal practitioners, officials and business executives from various industries.
The Forum discussed the technical, legal and security aspects of Cybercrime and the role of the various stakeholders in combatting fraud and piracy through the internet. It will also review and discuss cases studies in panel discussions which will gather bankers, lawyers as well as Cyber security specialists.