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08 February 2016

Barclays first financial institution to support INTERPOL efforts in combating cybercrime

LYON, France – A new agreement between INTERPOL and Barclays marks an important development in public-private partnerships to more effectively combat cybercrime.

Barclays will become the first financial institution to have staff working full-time alongside police and other experts in INTERPOL’s Cyber Fusion Centre to enable effective information-sharing and response to imminent threats.

Based in the INTERPOL Global Complex for Innovation (IGCI) in Singapore, the Cyber Fusion Centre provides a neutral, global platform for law enforcement, the private sector and academia to work collaboratively, sharing actionable threat information and developing operational responses.

The agreement follows the recent publication of the World Economic Forum’s ‘Recommendations for Public-Private Partnership against Cybercrime’ which highlight the need for information-sharing and cooperation between business and law enforcement.

IGCI Executive Director Noboru Nakatani said the agreement reflected INTERPOL’s ongoing commitment to working with the private sector.

“The scale and complexity of today’s cyber-threat landscape means cooperation across all sectors is vital,” said Mr Nakatani.

“INTERPOL’s agreement with Barclays is an important step in our continued efforts to develop a global alliance in combating cyber-threats which are a significant issue for both the public and private sectors,” added Mr Nakatani.

The agreement will formalize and broaden joint efforts in cyber security through intelligence sharing, training and awareness about cyber threats mitigation, and provide actionable recommendations for public and private institutions on strengthening their cyber resilience.

Group Chief Information Security Officer at Barclays Troels Oerting said: “I am proud to represent the first institution in the financial services industry to sign a comprehensive agreement with INTERPOL and to deploy a Barclays Cybercrime Analyst to the INTERPOL Global Complex for Innovation.

“This cooperation is an important step for Barclays, and for the whole industry, to ensure business continuity, maintain security and enable trust with our customers.

“Preventing cybercrime and keeping our citizens safe from being victims of crime in cyberspace is a global task and cannot be done without the involvement of INTERPOL,” concluded Mr Oerting.

The Barclays cybercrime analyst will join other experts from Cyber Defense Institute, Kaspersky Lab, LAC, NEC, SECOM, Trend Micro, the University of South Australia and the University of Waikato in New Zealand already based at the IGCI.