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Europol and Barclays shack up for steamy security shenanigans

Classic tale of crime-agency-meets-bank-to-tackle-cybercrime

By Alexander J Martin, 30 Jun 2015

EU law enforcement body Europol and Barclays have signed a Memorandum of Understanding (MoU) to formalise their cooperation in combating cybercrime targeting the financial sector.

The agreement establishes a formal means for Europol and Barclays to "exchange strategic information, information on trends, expertise and statistical data."

It follows something of a meme in MoUs between the private and public sector in recent times. As reported yesterday, Blighty's National Crime Agency is currently in bed with Intel Security and Trend Micro.

Rob Wainwright, director of Europol, said the agency's work "depends on the best possible collaboration with banks and other bodies in the financial sector."

The latest agreement was handled by Europol's European Cyber Crime Center (or EC3) which was launched in January 2013 to "strengthen the law enforcement response to cybercrime in the EU and to help protect European citizens, businesses and governments".

"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," said Troels Oerting, Barclays Group's Chief Information Security Officer.

Officially described as an "intensifying" of cooperation under Europol's existing outreach function, MoUs are also in place between the agency and several other financial institutions and security firms, including Trend Micro, McAfee, and Kaspersky. ®

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