On-line frauds had a tremendous increase in the last few years. Modern on-line frauds (possible through an illegal use of internet) are the result of complex and sophisticated criminal activities that leverage technical vulnerabilities, misconfigurations, weak websites, malicious codes and lack of user awareness. These techniques, combined with traditional crimes and fraud, require today a new approach not only by law enforcements, but by the entire community. Fraudsters leverage the complexity of Internet, the fragmented control of Service Providers and the difficulty to exchange information to perpetrate frauds. Most of the time, when a bank or an organization reportsofficially the offence to the Police, the data provided is old and few can be done to identify the offenders.
OF2CEN has the objective to fight e-crime through a strong cooperative network of actors involved in the detection and management of specific electronic crimes, including on-line frauds.
By taking advantages of collaboration among banks, credit card issuers, European law enforcement agencies and recognized risk management firms, the project willimplement an Information Sharing model and standard in order to analyze and mitigate electronic crimes risks.