The European Centre for Information Policy and Security (ECIPS) recently held discussions with INTERPOL in aim to assist the development of a global legal framework for Cyber Policing. Some of the talks focused on the lack of the Budapest Convention to indite criminals and terrorist across the border that invoke the illegal and criminal activities. The discussion was attended by an ECIPS delegation invited to visit INTERPOL Headquarters in Lyon, France.
Not much is known about the outcome of the discussions, but some believe that ECIPS might have the answer and solutions so desperately needed by cross border law enforcement agencies. Organized interment crime has risen by 27% in the last year and it’s expected to keep on rising with no end in sight.
The banking industry lost last year $1.8 Billion just by hacking, fraud and sadly not many prosecutions have been issued. Some judges said that they are wakening from a deep fairytale with many outdated laws to combat this growing epidemic. The cost to the European Economy is estimated at over a Billion Euro’s per annum. Just 5 years ago these figures were practically nonexistent.
The European Centre for Information Policy and Security warned in a press statement last Friday that this is only the tip of the iceberg to come. The ECIPS emphasized that the EU and US are lacking its critical cyber defense network and that corporations in charge of the so called solutions never seems to be ahead of the crime and could be feeding an illusion to the EU governments.
The ECIPS said the governments need to collectively intervene before this could result in a financial epidemic looming in the dark and that a legal cyber framework that defines new borders should be of vital priority. ECIPS recently established the first CYBERPOL International Cyber-Security Organization (ICSO) that hopes to form part of this INTERPOL collaboration to combat and bring solutions to fight cyber crime.
(Security Affairs – ECIPS, cybercrime)