Computing giant to freely share cyber-crime data with financial industry

Computing giant Microsoft is to freely share information with the financial services industry in an attempt to disrupt the activities of cyber criminals.

The collaboration will see Microsoft’s Digital Crimes Unit ally with the Financial Services Information and Analysis Centre (FS-ISAC). A pilot programme will see the firm’s Cyber Threat Intelligence feed made available to FS-ISAC members – providing real-time information on known malware infections affecting more than 67 million unique IP addresses. Microsoft said FS-ISAC members will be able to quickly identify infected computers on their networks and remove those threats.

Richard Domingues Boscovich, assistant general counsel at Microsoft’s Digital Crimes Unit, said this cyber-intelligence collaboration would ‘better protect our mutual customers and partners’.

He added: “The tools of the trade for bank robbers have evolved from ski masks and getaway cars. Today’s thieves quietly lurk in the shadows of cyberspace where they employ computer code to target banks, businesses and customers to make off with millions of dollars without ever cracking a safe.

“This collaboration will provide valuable intelligence into the global threat landscape affecting the financial services industry, including distributed denial of service attacks and financial botnet attacks. Together, we’ll be able to better protect FS-ISAC’s members and Microsoft customers from cyber-threats.”