A centralized service is being set up by Microsoft, after teaming up with several security and consumer groups. The security researchers, in this service, can give details of the stolen personal data and can report the cyber crime and occurrences of Internet fraud.

"Internet Fraud Alert, which began operations immediately on its launch on Thursday, is a partnership between Microsoft and the US-based National Cyber-Forensics and Training Alliance (NCFTA). It is supported by organizations including Accuity, the Anti-Phishing Working Group (APWG), eBay, the Federal Trade Commission and PayPal", Microsoft said.

This will be a kind of an alert system, and it can be used to give notices about all the financial or any other institution that is held accountable for the compromised accounts. The data that is stolen usually includes online account login details or credit card numbers.

This has come up as a new way to report the crime, and there prevailed no such centralized system, before. This will also help to deliver the information with protection from the security researchers to the service contributors, vendors, fiscal institutions and Government bodies. Microsoft thus, felt a need to develop such a system in which all the providers can be informed about the uncovered credentials.