Europol: Data law changes needed to fight cybercrime

Law enforcers in Europe need greater powers to retain data for longer in order to catch cybercriminals selling discrete services that police cannot trace under existing regulations, according to a Europol report.

Cybercrime is increasingly conducted by a highly specialized chain of software break-in experts, underground market-makers and buy-side fraudsters who convert stolen passwords and identities into financial gains. Criminals can keep data for months or even years before using it to defraud victims.

The study, entitled The Internet Organized Crime Threat Assessment by the EU’s criminal intelligence agency, says because laws limit how much data can be held and for how long, police cannot effectively trace and prosecute criminals.

Tougher laws for investigating and prosecuting cybercrime also need to be harmonised across the bloc, the report stated.