Big Business Joins Up To Tackle Cyber Crime

A group of leading companies including Microsoft, eBay and Citizens Bank have set up a service share information about cyber criminals.

Internet Fraud Alert will allow companies to share information about compromised accounts that they find inthe course of their investigations, in an attempt to combat internet fraud.

The programme will be administered by the National Cyber-Forensics and Training Alliance (NCFTA).

Chuck Harwood, deputy director of the Federal Trade Commision (FTC) said in a statement: “Internet Fraud Alert is a promising and innovative approach to help financial and online institutions discover hijacked accounts and close them or inform the affected consumers.”

A number of internet security companies are participating in the programme, including Accuity, a provider of payment routing data to the American Bankers' Association. A number of government agencies including the Anti-Phishing Working Group, the US Federal Trade Commission and the National Consumers League will also be monitoring the Internet Fraud Alert service.