Companies join forces to combat cybercrime

More than a dozen corporate giants in the retail, telecommunications, financial services, banking and technology industries are joining forces to combat phishing, spoofing and other methods of online identify fraud. Companies including AT&T Wireless Services, IBM, Best Buy and Fidelity Investments will announce the formation of the Trusted Electronic Communications Forum (TECF), a group that will focus on eliminating phishing's threat to e-mail and e-commerce. The TECF has described itself as a cross-industry, cross-geographic consortium dedicated to the standardisation of technologies, techniques and best practices in the fight against phishing, spoofing and identity theft.

The companies are concerned about virtual threats that "have impeded the progress of internet communications and have damaged the trust between enterprises and its customers".

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