District Attorney Vance Hosts 5th Annual Financial Crimes and Cybersecurity Symposium at the Federal Reserve Bank of New York

November 19, 2014
DA Vance and City of London Police Commissioner Adrian Leppard Addressed More Than 300 Attendees and Announced a Personnel Sharing Plan to Enhance Capabilities in Fighting Cybercrime

Manhattan District Attorney Cyrus R. Vance, Jr., today hosted the 5th Annual Financial Crimes and Cybersecurity Symposium, held at the Federal Reserve Bank of New York.  The Symposium brings together professionals from the financial, technology, regulatory, and law enforcement communities, and is designed to forge new partnerships and strengthen key capabilities for the 21st century. District Attorney Vance was joined at the Symposium by keynote speaker Adrian Leppard, Commissioner of the City of London Police, and together they announced a new collaboration in which the District Attorney’s Office and City of London Police will exchange personnel in order to increase the capacity to fight cybercrime and financial crime in both New York City and London.

“An increasingly close connection between cybercrime and financial crime means that cooperation is more important than ever,” said District Attorney Vance. “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 cybercriminal attacks will not be limited by state or national borders. This is why it is essential for financial institutions, governments, and law enforcement agencies to work together to protect the integrity of our markets and financial systems, as well as all our citizens.”

“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, especially in London and New York,” said Commissioner Leppard. “It is 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 agreement signed by the City of London Police and the New York 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 are doing everything we can to thwart what has become a common enemy.”

As part of the ongoing partnership between the New York County District Attorney’s Office and the City of London Police, a Memorandum of Understanding was signed this morning by District Attorney Vance and Commissioner Leppard formalizing the new personnel sharing program, providing for six-month staff exchanges between the two offices. In the coming months, staff from the District Attorney’s Office will become fully embedded members of the City of London Police, and City of London Police staff will be stationed within the District Attorney’s Office. The partnership is designed to expand capabilities for joint investigations and intelligence-sharing, and will be a critical tool to combat the threat of cybercrime and financial crime in both cities. The exchange will officially begin this spring with one staff member being placed in each office, with the expectation that the program may be expanded in the future.

The agreement builds upon a strong existing relationship between the two offices, which includes a joint case in June 2014 which brought charges against an international cybercrime ring that took over StubHub, LLC user accounts. The ring was able to steal personal identifying information, use victims’ credit cards to make fraudulent electronic ticket (“e-ticket”) purchases, and transfer the proceeds through a global network of accomplices in the United States, United Kingdom, Russia, and Canada.

In addition to remarks provided by District Attorney Vance and Commissioner Leppard at this year’s Symposium, addresses, panels and other presentations were organized featuring representatives from The New York County District Attorney’s Office, The Federal Reserve Bank of New York, The United States Secret Service, the Securities and Exchange Commission, the Serious Fraud Office (U.K.), as well as other organizations in the financial and regulatory sectors. A number of international agencies were present at the Symposium, including the City of London Police, the Royal Canadian Mounted Police, United Kingdom’s Serious Fraud Office, Ontario Securities Commission, Toronto Police Service, and the Australian Federal Police.