The alliance organized a group of IT suppliers, government agencies, and consumer organizations to focus exclusively on curbing ID theft by tackling it on multiple fronts, including education, technology, and collaboration.
The group will study the problem from a market standpoint and develop relevant solutions such as technical specifications or best practices, alliance representatives said.
"The first step in solving any difficult problem is defining and establishing the scope of the issue. Our team is working on this now, analyzing the problem from every angle and painting a clear picture of what we are up against," Michael Barrett, vice president of security strategy and architecture at American Express and co-chairman of Liberty's Identity Theft Prevention Group, said in a statement.
Liberty plans to host an Identity Theft Workshop on July 20 in Chicago to bring together organizations working on various ID theft issues.
Last month SC reported the Bank of America is rolling out a new authentication service for its online customers in an attempt to reduce fraud and identity theft.