Further public/private cooperation as EC3 teams up with Barclays

News by SC Staff

In a new public/private sector information sharing agreement, Europol's European Cybercrime Centre (EC3) has signed a Memorandum of Understanding (MoU) with Barclays bank to strengthen and expand cooperation combating cyber-crime in the finance sector through exchange of strategic information, information on trends, expertise and statistical data.

Rob Wainwright director of Europol told press:  “Europol is committed to helping financial institutions protect their business and customers from the growing threat of cyber-crime. Our work depends on the best possible collaboration with banks and other bodies in the financial sector. I am delighted, therefore, that we have joined forces with Barclays today.”

Troels Oerting, Barclays Group chief information security officer said: “The financial services industry is going through a period of change driven by technological developments that is creating both opportunities and challenges for banks.  Digital adoption and the integration of technology into people's lives is changing the way our customers and clients do business with us, but it's set against the backdrop of new risks such as cyber-attacks.  Europol has long played an active role in this space so by signing this agreement we will be able to collaborate with them in the fight against cyber-crime, further strengthening Barclays' defences and ensuring even greater security for our customers and clients into the future.”

The move follows yesterday's announcement that The UK's National Crime Agency (NCA) has agreed that private sector security companies Trend Micro and Intel Security will provide real-time intelligence for the NCA as part of “virtual threat teams”, according to Andy Archibald, head of NCA's cyber-crime unit.

It is also reflected within Nato, where the NATO/Industry cyber-partnership (NICP) was introduced to work very closely with industry in capability development, in collective defence, sharing of best practices, information sharing. Ian West, Chief, Cyber Security for NATO's  NCI Agency told SC MagazineUK that: “It's recognition from NATO that it cannot provide comprehensive cyber-defence of its networks without collaboration with industry – it's as simple as that. Industry often has the most innovative cyber-defence capability and technology.”

Yesterday Europol also announced that 130 arrests had been made following an international crackdown targeting criminals using stolen credit card information to purchase airlinetickets.  

During the June 16-17 law enforcement initiative, 38 companies reported fraudulent transactions to airport authorities while 222 suspicious transactions were reported by the airline industry, according to a release.

This investigation also included cooperation between private sector entities and international organisations along with Ameripol, Interpol and international authorities to identify and confirm suspicious airline transactions.

The two-day operation involved 140 airports across Europe, Asia, Australia, America and Africa and also led to the arrests of people suspected of other crimes including human trafficking, illegal immigration, the smuggling of goods, drug trafficking, fraud, cybercrime and terrorism. The global effort is part of Operation Blue Amber, a series of international actions targeting organised crime worldwide. 

To help cope with the cross-border demands of modern policing a deal reached between the European Parliament and member states on an update of the rules governing the European Union Agency for Law Enforcement Training, CEPOL . The EU Parliament's lead MEP Kinga Gál (EPP; HU), welcoming Council's confirmation of the agreement, said: "The urgency and continuous development of security threats, such as terrorism and cyber-crime, or the growing demand by migratory flows, make it crucial that European law enforcement authorities receive training of highest standard and are equipped with the most modern tools to effectively counter fight organised crime.

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