Europol partners FS-ISAC to combat cross-border cyber-crime

News by SC Staff

Europol's EC3 has signed a Memorandum of Understanding (MOU) with the Financial Services Information Sharing and Analysis Centre (FS-ISAC) to combat cyber-crime via intelligence sharing.

Europol’s EC3 has signed a Memorandum of Understanding (MOU) with the Financial Services Information Sharing and Analysis Centre (FS-ISAC) to combat cyber-crime within the European financial services sector through intelligence sharing.

The MOU is intended to facilitate and enhance the law enforcement response to financially motivated cyber-criminals targeting banks and other financial institutions through what it describes as, "a symbiotic intelligence-sharing network."

The agreement also aims to enable education and resilience through training exercises and informational summits.

"Cyber-criminals are increasingly targeting financial services and institutions to the cost of citizens and businesses across the EU," said Steven Wilson, Head of EC3. "It is crucial to bring key stakeholders around the table to improve the coordinated response; this MOU with FS-ISAC builds a platform to allow us to do exactly that."

FS-ISAC is described as a close partner of EC3 and an active member of the Advisory Group on Financial Services, a public-private partnership initiative, which provides a platform for financial services organisations and law enforcement to share information as well as to agree on joint operations and awareness campaigns.

 "Accelerated global digitalisation combined with the growing sophistication of cyber-criminals demands a more concerted approach from both the public and private sector," said Ray Irving, managing director of FS-ISAC. "Through a collaborative peer-to-peer network, FS-ISAC and EC3 are enabling intelligence sharing to better safeguard the global financial system."

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