Internet Fraud Reporting System Launched

What do the FBI, Microsoft and the American Bankers Association all have in common? Answer: they're all collaborating against online fraud.

Those organizations, and more, have joined Internet Fraud Alert, a new program for alerting institutions to data breaches. The program was launched on Thursday using technology from Microsoft that enables companies and institutions to get reports when user accounts are compromised. Breached data might include user names, passwords and credit card numbers that hackers might use to perpetrate fraud.

No easy method to alert institutions existed before the release of Internet Fraud Alert, according to Microsoft's announcement.

Microsoft has contributed its Internet Fraud Alert solution to the National Cyber-Forensics and Training Alliance (NCFTA), which will manage the program. The NCFTA is a nonprofit organization consisting of the FBI, the Cyber Initiative and Resource Fusion Unit, four universities, the U.S. Postal Inspection Service and various corporations, including Microsoft. The main activity of NCFTA participants is to share information about Internet security fraud threats.

"Partners come to the NCFTA prepared to share information in a manner that respects the privacy, data integrity and diversity of every contributor," according to the NCFTA Web site. "In return, the NCFTA provides an array of highly specialized products and services that help its partners reduce current and future fraud."

In addition, Accuity -- an NCFTA member and provider of global payment routing data -- has donated a solution to the NCFTA that helps to verify the institutions participating in the program.

The Internet Fraud Alert program is designed to facilitate secure communications about phishing scams or hacks for the "stakeholders" in the program, such as financial institutions, retailers and service providers. Possibly, the program may squelch embarrassing "bad PR" through its private alert system. For instance, last week, Goatse Security publicly reported that the e-mail addresses of thousands of AT&T iPad 3G users could be viewed on AT&T's Web site by using a program.

Other participating organizations in the Internet Fraud Alert program include the "Anti-Phishing Working Group, Citizens Bank, eBay Inc., Federal Trade Commission, National Consumers League and PayPal," according to Microsoft's announcement.

About the Author

Kurt Mackie is online news editor for the 1105 Enterprise Computing Group.

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Reader Comments:

Mon, Aug 30, 2010 Dianne McRae, GA

How do I get my 79 dollars back and stop this from deducting out of my account?

Sat, Aug 21, 2010 Kerri Wisconsin

fastnet learning charged 2.95 for postage and now is charging 79.99 every 15 days using names like web*bzclb and SCAM! BEWARE!

Sat, Jul 31, 2010 Micah Gastineau Indianapolis

I recently noticed that I have been getting charged fraudulantly by both Fastnet Learning and now by profitguru. I ordered info a long time ago for $2.95 and never received the info but am being stolen from by these groups. What do I do?

Thu, Jun 24, 2010 Jim

People who scam people should be thrown in jail or off a bridge. However, the victim has to share some responsibility. To fall for something like that is just plain stupid.

Sun, Jun 20, 2010 Allan Carter Florida

Internet scams are getting more all the time. Below is one I see a lot of people fall for: ______________________________ They rip you off for $79.00 per month,no system as they clain,all based on signing up new people, they make their profit off the $79 a month scam. They trick you into signing up for $2.95 postage??? Than automatic charge your card for $79 each month, the $2.95 is to just get your card number.Their Disclaimer say this:11.2 To the fullest extent permitted by law, we shall have no liability to You.

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