At the 5th annual Europol-Interpol Cybercrime Conference held in The Hague, Netherlands, Europol and Interpol reaffirmed their strong commitment to continue their partnership in the war against cybercrime.
The two law enforcement organizations pledged to continue their work and to build on successful examples of their partnership.
During the past few years, ransomware managed to be one of the most damaging threat on the internet. Spreading globally, the attacks have affected millions of victims in both public and private sectors. The damages costed companies and organizations millions of dollars, with some of the attacks had even crippled them.
In Europol's annual report on internet organized crime, it stated that:
Earlier this year, the "Petya" ransomware attack had severely damaged many organizations in Europe and the United States. The malicious software spread through large firms and organizations, locking up their PCs and hold the data for ransom.
It was described as the second major global ransomware attack in a space of just two months with the biggest one was the "WannaCry" ransomware epidemic.
At the launch of the 80 page-report, Europol’s chief Rob Wainright, said that the impact of huge cybersecurity events has taken the threat of cybercrime to another level.
The conference had over 420 delegates from 68 countries to highlight the importance of creating a universal global response which incorporates all stakeholders including the private sector, international organizations, governments and the police.
Europol and Interpol stated that one of the most effective ways of fighting ransomware is to prevent it.