’Femi Asu
The First Deputy Managing Director, International Monetary Fund, Mr David Lipton, has said countries need to do more internally and internationally to coordinate their efforts to tackle cybersecurity threats.
Lipton, in a piece published on Monday, noted that last March, Operation Taiex led to the arrest of the gang leader behind the Carbanak and Cobalt malware attacks on over 100 financial institutions worldwide.
He said the law enforcement operation included the Spanish national police, Europol, FBI, the Romanian, Moldovan, Belarusian, and Taiwanese authorities, as well as private cybersecurity companies.
According to him, investigators found out that hackers were operating in at least 15 countries.
Lipton said, “We all know that money moves quickly around the world. As Operation Taiex shows, cybercrime is doing the same, becoming increasingly able to collaborate rapidly across borders. To create a cyber-secure world, we must be as fast and globally integrated as the criminals. Facing a global threat with local resources will not be enough.”
“To begin, the private sector offers many good examples of cooperation. The industry deserves credit for taking the…
