Europol backed Barclays in its fight against cybercrime on Monday as the pair signed a memorandum of understanding in a bid to strengthen ties.
Under the scheme the international police and British bank will share data and expertise on trends in the online criminal world, finance having been amongst the greatest targets for hackers in the past few years.
Troels Oerting, chief information security officer at Barclays, said: "The financial services industry is going through a period of change driven by technological developments that is creating both opportunities and challenges for banks.
"Digital adoption and the integration of technology into people’s lives is changing the way our customers and clients do business with us, but it’s set against the backdrop of new risks such as cyber attacks."
The move comes just a few months after Oerting moved from his role as director of Europol’s cybercrime unit to Barclays, taking him from The Hague in South Holland to Canary Wharf in London.
At the time Alan Woodward, a professor at the University of Surrey and Europol advisor, told SC Magazine that the move was "quite a blow" due to the work Oerting had put in growing the police unit’s profile.
"Europol is committed to helping financial institutions protect their business and customers from the growing threat of cybercrime," said Rob Wainwright, director of Europol.
"Our work depends on the best possible collaboration with banks and other bodies in the financial sector. I am delighted, therefore, that we have joined forces with Barclays today."
