It is estimated that, worldwide, more than one million people become victims of cybercrime every day. The cost of cybercrime could reach an overall total of USD 388 billion worldwide. Today, the European Commission proposed to establish a European Cybercrime Centre to help protect European citizens and businesses against these mounting cyber-threats. The centre will be established within the European Police Office, Europol in The Hague (The Netherlands). The centre will be the European focal point in fighting cybercrime and will focus on illegal online activities carried out by organised crime groups, particularly those generating large criminal profits, such as online fraud involving credit cards and bank credentials.