The Financial Services Information Sharing and Analysis Center (FS-ISAC), a US industry consortium, has forged a partnership with Europol’s European Cybercrime Centre (EC3) to combat cybercrime within the European financial services sector.

The intelligence sharing partnership is a response to the acceleration of sophisticated cyber-attacks in recent years affecting numerous countries and jurisdictions at once.

In addition to facilitating information sharing, the agreement will also enable education and resilience through training exercises and informational summits.

“Cybercriminals are increasingly targeting financial services and institutions to the cost of citizens and businesses across the EU” says Steven Wilson, head of EC3. “It is crucial to bring key stakeholders around the table to improve the coordinated response; this MOU with FS-ISAC builds a platform to allow us do exactly that.”