Following the completion of Phase 1 of the global Project on Cybercrime in February 2009, Phase 2 was launched at the Octopus Interface conference in March 2009. The project ended in December 2011.

The objective was to promote broad implementation of the Convention on Cybercrime (ETS 185) and its Protocol on Xenophobia and Racism (ETS 189) and related international standards.

This was to be achieved through results in the following areas:

• Legislation and policies
• International cooperation
• Law enforcement – service provider cooperation 
• Financial investigations
• Training of judges and prosecutors
• Data protection and privacy
• Protection of children

The project was funded by contributions from the governments of Estonia, Japan, Monaco and Romania, as well as Microsoft, McAfee and Visa Europe that complemented Council of Europe funding.