Tag Archives: The Square Mile

City of London Police Commissioner calls on financial centres to act now and prevent a major cyber attack

International financial centres, Governments and law enforcement must work closely together to prevent organised criminals and terrorist organisations from bringing global markets to a standstill with a massive cyber attack. This was the message delivered by City of London Police Commissioner Adrian Leppard when he appeared as the keynote speaker at the Financial Crimes and Cyber Security Symposium in New York.

Hosted by the New York County District Attorney’s Office and held in the Federal Reserve Bank, the event was attended by more than 300 delegates from the world of policing, finance and public and private sector cyber security.

Commissioner Leppard, whose UK force is the National Policing Lead for Fraud, highlighted the increasingly sophisticated fraud and cyber threats facing world financial centres, with a particular focus on the City of London and Wall Street. He pinpointed the risks posed by state-sponsored espionage and terrorism using highly complex malware – such as Ransomware and Distributed Denial of Service (DDoS) attacks – to threaten the integrity of trading platforms and major deals.

Commissioner Leppard also stated it’s now vital that law enforcement and financial institutions share information on the current threats. He called for companies to be legally obliged to report to the authorities when they have fallen victim to a cyber attack and thereby ensure steps can be taken to protect other financial institutions and target the offenders.

Adrian Leppard: City of London Police Commissioner

Adrian Leppard: City of London Police Commissioner

In recognition of the rapidly evolving and expanding threats to the global financial districts, including London and New York, the City of London Police and the New York County District Attorney’s Office are to forge a closer alliance. From Spring 2015, there will be a staff exchange programme between the two agencies aimed at developing greater operational collaboration, intelligence sharing and de-briefing of investigative Best Practice.

This development comes hot on the heels of the City of London Police signing an agreement with the Royal Bank of Scotland to have financial experts from the bank providing specialist advice and guidance under the force’s new Corporate Volunteer Consultancy Scheme.

Determination of international criminals

Speaking from New York, Commissioner Leppard said: “We cannot underestimate the determination of international criminals, operating alone or as part of serious organised crime gangs or terrorist organisations, to launch a major strike against our financial centres, particularly in London and New York. It’s therefore crucial we take a proactive approach to this threat by putting in place the technical and legal systems that will keep trading platforms secure from malware and prevent companies from being compromised by a rogue employee or weak IT systems.”

The Commissioner continued: “The agreement signed by the City of London Police and the New York County District Attorney is another important step in the right direction, bringing the people who protect the Square Mile and Wall Street closer together and ensuring we’re doing everything we can to thwart what has become a common enemy.”

New York County District Attorney Cyrus R Vance Junior added: “An increasingly close connection between cyber crime and financial crime means that co-operation is more important than ever. Our international partnerships, in particular our ongoing collaboration with Commissioner Leppard and the City of London Police, reflect a changing landscape and the understanding that cyber criminal attacks will not be limited by state or national borders. This is why it’s essential for financial institutions, Governments and law enforcement agencies to work together in protecting the integrity of our markets and financial systems as well as our citizens.”

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Survey finds Londoners ready to tackle the terrorist threat

A survey has revealed that nearly three quarters (73%) of individuals who live or work in the City of London are concerned about terrorism compared to 68% of all London adults. An even greater number of Londoners (87%) think that members of the public are important in fighting terrorism, with nearly three quarters (73%) of survey respondents stating they’re likely to report suspicious behaviour to the police.

The survey, undertaken after the UK terrorist threat level was raised from ‘Substantial’ to ‘Severe’, shows that the message from the City of London Police to remain vigilant at all times is one shared by the public. The survey also highlights a gender bias, with 76% of women concerned about terrorist attacks compared to only 59% of men.

The City of London Police continues to pioneer a new and innovative approach to deter terrorism and detect crime through Project Servator. This involves joint deployments with the British Transport Police (BTP) as well as private sector security officers from hundreds of businesses to ensure a ‘Ring of Steel’ around The Square Mile.

Adrian Leppard: City of London Police Commissioner

Adrian Leppard: City of London Police Commissioner

Adrian Leppard – Commissioner of the City of London Police – explained: “Members of the public should be vigilant to the threat posed by terrorism. This survey shows that they are willing to work with the police to prevent such attacks. The people of London are resilient and knowledgeable about the risks from terrorism and know they are key to helping fight that threat.”

Commissioner Leppard added: “Project Servator’s success lies in the partnership between the City of London Police and British Transport Police working with the private security industry, businesses and the public to create a ‘Ring of Steel’ around The Square Mile.”

Project Servator: the detail

Project Servator uses behavioural detection officers and specialist teams to spot suspicious activity and has already led to a total of 98 arrests and 31 cars being seized since launch in February of this year.

Servator involves new tactics and cutting-edge training for police officers that will help deter people from carrying out hostile reconnaissance and detect those with malicious intent. It also increases the opportunity for interaction between police officers and members of the public, provides further reassurance to the public and helps deter and detect other criminal perpetrators.

Hostile reconnaissance is the purposeful observation of people, places, vehicles and locations with the intention of collecting information to inform the planning of a hostile act against a target. Criminals – whether extreme protest groups, organised crime groups or terrorists – have to conduct hostile reconnaissance in order to plan a successful attack. If they can be disrupted and deterred at an early stage, it’s likely that they will abandon their plans.

Following three years of intensive work and study by a Government organisation, the City of London Police ran an initial pilot scheme which heralded a change in the way police use tactics to deter hostile reconnaissance. Due to the way in which the scheme works, these tactics should also have beneficial effects on crime in general.

*Unless otherwise stated, all figures are from YouGov plc. The total sample size was 2,076 London adults. Fieldwork was undertaken between 24-30 October 2014. The survey was carried out online. Figures have been weighted and are representative of all London adults (aged 18+)

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