IMF: Cybersecurity Threats Call for a Global Response

IMF: Cybersecurity Threats Call for a Global Response

JANUARY 13, 2020

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. This law enforcement operation included the Spanish national police, Europol, FBI, the Romanian, Moldovan, Belarusian, and Taiwanese authorities, as well as private cybersecurity companies. Investigators found out that hackers were operating in at least 15 countries.


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. Countries need to do more internally and internationally to coordinate their efforts.

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