THE HAGUE, Netherlands — The European Union's police coordination agency has opened a new cybercrime unit to combat online offenses from banking fraud to peddling images of child sex abuse.
European Home Affairs Commissioner Cecilia Malmstrom said Friday the new unit at Europol will be playing catch-up with organized crime gangs reveling in a "Golden Age" of cybercrime.
She says such criminals "are ahead of us when it comes to imagination and cooperation."
Europol says online payment card fraud generates an estimated (EURO)1.5 billion a year, while recent international investigations into pedophiles who traffick child abuse images on the Internet have led to hundreds of arrests worldwide.
The European Cybercrime Centre, or EC3, is based at Europol's new headquarters in The Hague.
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Copyright 2013 Associated Press