EBay, Microsoft Form Internet Security Group

Executives from EBay Inc., the world’s largest Web auctioneer, and Microsoft Corp., the world’s biggest software maker, are forming a group to address security issues on the Internet.

The Global Council of Chief Security Officers is starting with 10 members from some of the largest U.S. companies and will be expanded to include members from outside the U.S., according to EBay Vice President of Security Howard Schmidt.

Concern about the security of personal and financial information on the Internet has risen as companies use it for commerce and communication. Problems range from computer viruses to identity theft and fraud.

From Bloomberg News