During the Combating Financial and Cyber Threats conference hosted by the City of London Police yesterday, the Global Cyber Alliance was launched. This encouraging initiative was jointly announced by the City of London Police and the Manhattan District Attorney's office, the agencies responsible for leading the fight against financial crime in these global financial centres. During his keynote speech, the DA announced a $15m funding package for the GCA and as the Wall Street Journal notes, this comes from the massive $447 fine levied on BNP Parabis last year, which seems a very appropriate use of these funds.

As a not-for-profit NGA, the Global Cyber Alliance should help address a key issue in fighting cyber crime, namely the poor sharing of intelligence outside law enforcement. Better reporting of cyber crime by the business community should fuel improved generation of intelligence insight that can in turn be shared by automated systems to help disrupt the growing levels of cyber-enabled crime.