A step forward in the fight against cyber crime
The European project OF2CEN (On-line Fraud Cyber Centre and Expert Network) was presented by the Postal and Communications Police in Rome yesterday. The project, whose objective is to fight IT crime, will implement an information sharing platform, developed by private and public organizations and funded by the European Union through the programme Prevention of and Fight against Crime (Isec).
Interior Minister Angelino Alfano, Police Chief Alessandro Pansa and Director of Traffic, Railway, Postal and Communications Police and the Police Special Units Santi Giuffrè, attended the event, together with Director-General of the Italian Banking Association (ABI) and ABI Lab President Giovanni Sabatini and Deputy General Manager of Unicredit Paolo Fiorentino.
An international project against cyber crime
Rapid technological development is accompanied by the rise of cyber threats, which make our society more vulnerable.
In particular, phishing and credit card cloning are based on identity theft and are the most visible part of an alarming and recurring large-scale criminal activity.
A recent survey conducted in Italy in the banking sector showed that in more than two-thirds of cases, the economic loss suffered by clients and/or banks is linked to electronic identity thefts. Fraudulent transactions show that the money transfer is the favourite means used by criminals to commit the thefts, affecting both national and international transactions.
The Postal police action
The Postal police has employed all its expertise to launch OF2CEN, aimed to set up a centre for the analysis, prevention and fight against cyber threats targeting online banking services and financial management tools.
The project partners are Abi Lab, Unicredit, Booz & Company, Global cyber security center, General inspector of Romanian police, National crime agency .
OF2CEN implements an information sharing platform and collects suspicious transaction reports, which are submitted by the banks to the police. It facilitates the exchange of information, IP addresses and fraudulent banking data through secure channels.
Moreover the Postal police detect and share "early warnings" related to suspect unlawful activities, putting in place an effective cyber crime prevention effort.
The platform is currently being tested and will be operational by the end of 2013.