Microsoft launches stolen accounts database

A new Microsoft service aims to mitigate phishing and data theft

Microsoft has launched a new service designed to report and track stolen account information.

Internet Fraud Alert will allow researchers to report stolen account details to a central database which can be shared with law enforcement groups and online retailers.

The aim is to help slow the online trade in stolen account details, which are often harvested through phishing or malware operations and sold wholesale for fraud and identity theft operations.

Microsoft is donating the system to the non-profit National Cyber-Forensics and Training Alliance.

The group plans to combine the tool with a screening service from Accuity to create a system for law enforcement and retailers to securely access the database and track stolen accounts.

"By combining new technology and critical partnerships, Internet Fraud Alert helps alert institutions to stolen credentials so they can take action to combat fraud," said Nancy Anderson, corporate vice president and deputy general counsel at Microsoft.

"The Microsoft Digital Crimes Unit is proud to be working with the National Cyber-Forensics and Training Alliance and everyone joining with us today to announce this valuable new tool in the fight against cyber crime."