A new fraud-fighting network launched by Microsoft and a cyber-crime fighting alliance includes a pair of Washington state credit unions among its first participants.
BECU and Yakima Valley Credit Union are part of the Internet Fraud Alert program the Redmond, Wash., software giant created in partnership with the National Cyber-Forensics and Training Alliance.
They became members of the new Internet Fraud Alert program at no extra cost as customers of Internet Identity (IID), a Tacoma-based provider of Internet security services, the company said.
Program members are instantly notified when fraudulent activity involving stolen credentials from their members or customers is discovered. IID contributes its own monitoring data to the network, and said that the two credit unions, along with fellow customer Monster.com, the job-seekers’ website, are among the initial users of the service.
“Our participation in the Internet Fraud Alert program with IID will further enhance BECU’s ability to protect our members,” said Ken Kinlock, information protection officer at $9 billion BECU.
“The safety of our members’ financial and personal information is extremely important to us. That’s why advanced security measures are a top priority,” said Don Rowe, network administrator at $277 million Yakima Valley CU in Yakima.
IID said its ActiveKnowledge solution will relay data to Internet Fraud Alert, including lists of malicious (or compromised) IP addresses, domains, host names and e-mail accounts that it discovers during its normal scanning and “deep-dive” fraud investigations. That will help the new program ensure that all affected institutions receive recovered data in real time, the company said.
“By joining forces with a national crime fighting organization like NCFTA, we’re able to help take the battle against cyber criminals to the next level,” said IID President Rod Rasmussen.
Microsoft and NCFTA-a nonprofit formed to identify and mitigate cyber crime threats in partnership with the private sector, law enforcement agencies, academics and other groups-announced the launch of Internet Fraud Alert in June.