Cisco and INTERPOL collaborate to combat cybercrime

In a move towards increasing their capabilities to combat cybercrime, Cisco and INTERPOL will be sharing threat intelligence. The data sharing is aimed at helping develop faster threat detection around the world as well as lay the groundwork for potential future collaboration on training and knowledge sharing.

“The exchange of information and expertise between the public and private sectors is vital in combating cybercrime. No country or company can do this alone. INTERPOL’s agreement with Cisco provides us, and law enforcement in our 192 member countries, with access to important cyber-threat information which will help us not only detect attacks but also help prevent them,” said Noboru Nakatani, Executive Director of the INTERPOL Global Complex for Innovation (IGCI) in Singapore.

“Visibility and comprehensive threat intelligence across the cyber domain are critical to enable detection, analysis, and protection against emerging threats. We are pleased to collaborate with INTERPOL to exchange threat intelligence and find other knowledge-sharing opportunities to fight cybercrime globally,” commented John N. Stewart, Senior Vice President and Chief Security and Trust Officer at Cisco.

Malaysians reported more than 8,000 cybercrimes over 2016. In 2016 alone, CyberSecurity Malaysia received 8,334 reports related to cyber security incidents. Between 2012 to 2016, CyberSecurity Malaysia received a total of 50,789 cyber security incidents. Of the figure, fraud contributes to almost 40 per cent or 20,141 followed by hacktivism (9,918), spam (9,210) and cyber threats (2,333).

According to data from Kaspersky, more than 70 per cent of the incidents reported involved financial implications, including phishing, online banking fraud, credit card fraud and online scams among others. Statistics from The Royal Malaysian Police recorded 113 phishing cases resulting in total losses of RM1.91 million.

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