Microsoft, eBay and Citizens Bank have released new Internet fraud aware service intended to permit them to share data about compromised accounts with each other in effort to better fight online fraud.

Companies performing searches of fake activity online find compromised accounts of other firms customers, but there was not simple way to report findings, said Nancy Anderson deputy general counsel, Microsoft. Internet Fraud Alert service, permit investigators to report stolen account credentials like passwords to online vendor, she said. It is "not uncommon" for Microsoft and other companies doing interior fraud investigations to find compromised accounts from other vendors, Anderson said.

Latest program is important latest part of our arsenal to fight online fraud and shield customers," Anderson said. The institution dependable for that account will get immediate alert so they can take instant action. It's effort to get right information into right hands of right people."