Share

The European Cybercrime Centre (EC3) at Europol has signed a memorandum of understanding (MoU) with the European ATM Security Team (EAST) to fight the threats of payment crime.

The MoU will expand partnership between EAST and Europol in combating all types of payment crime, including card-not-present fraud, card present fraud, hi-technology crime, as well as ATM malware and physical attacks.

In addition, the agreement will enable both the companies to exchange strategic data and other nonoperational information.

The MoU was signed during the 36th EAST Meeting of National Members at Europol’s headquarters in Hague.

Additionally, Europol has prepared guidelines about the threat presented by ATM logical and malware attacks. The document will be restricted to Law Enforcement and the payment/banking industry and its production will be coordinated by the EAST Expert Group on ATM Fraud (EGAF).

According to EAST statistics, 51 malware attacks were reported last year with significant related losses.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Europol’s deputy director of operations Wil van Gemert said: "Europol’s EC3 is pleased to further increase the cooperation with EAST, creating further capacity to combat the threats of payment crime."

EAST executive director Lachlan Gunn said: "The signing of this agreement further strengthens this relationship. Over the past 11 years ATM related payment card fraud has been the major fraud issue faced by many of our National Members, but logical and malware attacks are now recognised as an increasing threat.

"Our National Members represent 31 countries, with a total of 655,398 ATMs, and our working relationship with the European Cybercrime Centre is of great strategic importance to both the public and private sector."