June 21, 2010
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News: Microsoft Fighting Cybercrime
Have you been the victim of cybercrime? If so, then you know the devastation of having your debit or credit card information compromised. Cybercrime has become the fastest growing crime in the world. When an individual has his debit or credit card information stolen, not only are their accounts maxed to the limit, but thieves quickly use the card information to steal identities and open new accounts maxing them out as well. Meanwhile, as time passes on, the crime goes unnoticed for several weeks or months before the cardholder realizes the account has been stolen. Furthermore, it may take the victim years to recover. Microsoft has been working on changing things by significantly reducing the response time and thereby saving banks and credit card victims millions of dollars by minimizing the damage caused by cybercrime.
Microsoft has partnered with National Cyber-Forensics and Training Alliance (NCFTA) to provide an enhanced software program that will help security professionals send quick responses to financial institutions when an account has been compromised. Prior to the release of this new security software, when a debit or credit card account had been compromised, there was no system in place that could quickly and easily notify the card issuer of a potential data breach. Internet Fraud Alert, the result of joint efforts between the two companies, provides participants a way to report stolen personal information or debit and credit card information quickly to the appropriate financial institution by way of a centralized alerting system. The goal of Internet Fraud Alert is to help cut down cyber crime and reducing potential losses from online fraud.
Microsoft reminds consumers that there are some things they can do to help reduce the chances of having their debit or credit card information compromised. Most importantly, consumers should avoid responding to unsolicited emails and consumers should keep a watchful eye on all bank and card accounts. Consumers should notify their financial institutions of any suspicious activity immediately. For more information, consumers can visit the NCFTA website at http://www.ncfta.net/report-cyber-incident/report-cyber-incident/