Internet Fraud Alert

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How It Works

Every year, millions of people become victims of Internet fraud and the problem is growing. To help protect consumers from this increasingly-common crime, Microsoft has joined forces with the National Cyber-Forensics & Training Alliance (NCFTA), to develop the Internet Fraud Alert.

Internet Fraud Alert creates a trusted and effective mechanism for participating researchers to report stolen account credentials discovered online – such as username and password log-in information for online services or compromised credit card numbers – to the appropriate institution responsible for that account. Through a centralized alerting system powered by Microsoft technology developed specifically for this program, Internet Fraud Alert will quickly inform companies about compromised credentials, allowing them to take the appropriate action to protect their customers.

The Problem: Phishing and malicious code attacks pose a serious threat to consumer identity and credentials. In 2009, the Anti-Phishing Working Group received more than 410,000 unique phishing email reports and recent data from the APWG show that the number of brands being exploited by phishers is at an all-time high. ISPs, industry researchers and law enforcement who investigate cyber crime frequently track down repositories of stolen credentials but have lacked an efficient and secure way to share this sensitive data with the appropriate financial institutions. As a result of these challenges, consumers remained vulnerable and banks and merchants remained exposed to significant financial loss. Investigators were left frustrated, wanting to do the right thing to protect the victims, but lacking the tools and resources to effectively do so.

The Solution: Internet Fraud Alert will bring together a wide assortment of stakeholders, including retailers, financial institutions, services providers, technology companies, academic researchers, consumer advocates and government agencies in the shared interest of reducing online fraud and protecting consumers. Through Internet Fraud Alert, the security community will be empowered to quickly and easily notify stakeholders so they are able to protect their customers and prevent potential financial losses. As the technology creator and sponsor, Microsoft is donating the tool to NCFTA, a non-profit organization dedicated to facilitating public-private partnerships between industry, law enforcement, and academia on cyber-security issues. Accuity, the leading provider of global payment routing data, has donated a solution to assist NCFTA with the vetting of institutions.

IFA Partners