Microsoft vs fraud
Date: November 07, 2006Source: observer.guardian.co.uk
Microsoft is to introduce a sophisticated protection system aimed at preventing online fraud. The company is urging rival companies to adopt a similar technique.
The system, Cardspace, has been developed to counter a major crisis facing computer users, the company said. Unless urgent action is taken, consumers risk fraudsters gaining access to banking and financial data, as computer crime contains to grow.
'There has been an erosion of the principles of data protection over the past 10 years,' said Caspar Bowden, chief privacy adviser for Microsoft. 'Data storage has become so cheap, there is no incentive to be selective about what we keep and what we discard. It is easier to keep almost everything and that has had a cumulative effect. There is an approaching crisis in data protection.'
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