FS-ISAC AND EC3 SIGN PARTNERSHIP TO FIGHT CYBERCRIME IN MEMBER STATES
The FS-ISAC and EC3 have partnered to mitigate the menace of cyber attacks against financial institutions made rampant in recent times. Their agreement, a Memorandum of Understanding (MOU) hopes to target these criminal organizations by sharing intelligence.
The Financial Services Information Sharing and Analysis Center (FS-ISAC) has partnered with Europol’s European Cybercrime Centre (EC3) to curb the reach of cybercrime in the European financial services sector.
Both parties are known for their dedication to diminishing consumer risk in the financial sector and have signed a Memorandum of Understanding (MOU) to boost speedy law enforcement response to cybercriminals making financial institutions the target of their criminal activities, and facilitate an intelligence-sharing network, as well as training exercises, informational summits, joint operations, and awareness campaigns mutually beneficial to them.
This comes on the heels of increasingly aggressive cyber attacks on financial institutions and individuals worldwide. The partnership hopes to achieve a safer online financial environment by adopting seamless measures that enable law enforcement to identify, apprehend cyber-criminals and halt hacking and scamming operations through collaborative investigations, and the sharing of intelligence.
The European Cybercrime Centre was established by the EU in 2013 to safeguard the interests of citizens, governments, and businesses within the union from cybercrime. The centre provides data analysis, threat assessments as well as technical support to member states. Similarly, the Financial Services Information Sharing and Analysis Center fosters a safer financial online market by using intelligence, expertise and resiliency resources to preempt and attenuate cyber threats on a global scale.