The Internet Fraud Alert will offer a mechanism for participating researchers to report stolen account credentials discovered online, including username and password login information for online services or compromised credit card numbers, to the appropriate institution responsible for that account. Via a centralised alerting system powered by Microsoft, Internet Fraud Alert will inform companies about compromised credentials, allowing them to take the appropriate measures. According to current members, the program is open to all reputable companies that do business online. Companies that want to join the program will have to apply and be confirmed as legitimate.
Microsoft has developed the technology underpinning the service and donated it to the National Cyber-Forensics and Training Alliance, a nonprofit group that trains law enforcement agents, academics and public- and private-sector groups to combat online crime.
The Anti-Phishing Working Group estimates that 1 million U.S. residents had accounts compromised in phishing attacks in 2009.
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