New project to boost fight against online data theft

New tool will help security firms log stolen data

Microsoft is spearheading a project with the National Cyber-Forensics and Training Alliance (NCFTA) and other companies, including eBay and Paypal, to help protect consumers from internet fraud.

Internet Fraud Alert is a web-based system that allows security researchers to log compromised data they find on the internet into a central database.

The data is most likely to comprise username and password information or stolen credit card details.

The web tool will enable security companies to notify relevant banks and institutions, meaning they can protect their customers and prevent potential financial losses.

The companies involved in the project claim that in 2009 the Anti-Phishing Working Group (APWG) received more than 410,000 unique phishing email reports.

The group's most recent data shows that phishing is at an all-time high.

Microsoft is donating the tool to NCFTA, a non-profit organisation dedicated to facilitating public-private partnerships between industry, law enforcement and academia on cyber-security issues.

Global payment routing data provider Accuity has donated a component that will help NCFTA vet institutions.