The European Banking Federation (EBF) and Europol’s European Cybercrime Centre (EC3) have agreed to work together to prevent cyber crimes in the financial sector.
The two organizations have signed a memorandum of understanding for exchange of expertise, statistics and other strategic information.
EC3 head Troels Oerting said: "We have agreed to intensify mutual cooperation…. to jointly enhance our ability to prevent, prosecute and disrupt cybercrime against the financial sector.
"This is more than a ceremonial gesture – this is the establishment of a trusted relationship aimed at achieving tangible results that will make life more difficult for criminals and life easier for the banking sector and all of us who use these important services."
EC3 will provide data on threats to financial institutions while banks can report any new malware or payment fraud instances to EC3.
The EBF represents around 4,500 banks from 32 national banking federations in Europe.
EBF CEO Wim Mijs said: "International cooperation between banks and law enforcement bodies is essential because it is clear that criminals know no borders."