File - An ATM machine, Thursday, Oct. 27, 2011. (The Daily Star/Mahmoud Kheir)
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Clad in black converse emblazoned with the Batman emblem, jeans and a bracelet reading "HACKERS," Jayson Street approached a Beirut bank last week.Fortunately for the bank, however, Street is an information security expert paid to test the vulnerability of companies' networks and databases.Nearly a year ago, Street and his colleague, Khalil Sehnaoui, established the Beirut offices of Krypton Security, an information security and risk management company.The regional need for improved digital security is great, say Sehnaoui and Street.The Central Bank, he says, actively encourages commercial banks to adapt to the newest threats.The Banking Control Commission branch of the Central Bank is responsible for assessing the security of financial institutions and commercial banks, he said. Nahle insists that external auditors send the Central Bank security assessments on each bank in Lebanon every two months. The Central Bank has followed suit, Nahle says.Street and Sehnaoui added that to mitigate reputational risk many companies didn't report when their systems had been breached.
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