Working with the FBI, #Microsoft says it has taken down a cybercrime ring responsible for $500 million in fraud.

The software giant said Wednesday
that it successfully disrupted more
than 1,000 networks of computers
infected with "malware."
"This cooperative action is part of
a growing proactive effort by both
the public and private sector to
fight cybercrime," Microsoft said in
a statement.
The company said the malware
affected roughly 5 million people
around the globe.
Most computer infections appeared
in the United States, Europe, Hong
Kong, Singapore, India and
Australia.
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The FBI said this take-down
exemplifies how the public and
private sectors can work together,
both domestically and
internationally, to protect the
public from global criminals.
The FBI issued a report this week
on the rising use of botnets, which
are groups of infected computers
controlled by cybercriminals.
Criminals can infect a huge
network of computers -- numbering
in the hundreds of thousands or
even millions -- and then each
computer is connected to a
command-and-control server
operated by the criminal.
Botnets can be used to distribute
spam, malware and assist with
organized crime and terrorist
activities, said the FBI.
This is not the first time that
Microsoft ( , Fortune 500)
has taken an active role in fighting
cybercrime. In March 2012,
Microsoft employees, escorted by
U.S. Marshals, raided two U.S.
companies and seized servers and
hundreds of websites used to steal
more than $100 million over five
years.
Other major players in the financial
services industry also contributed
to the recent cybercrime take-
down, including the Electronic
Payments Association and the
American Bankers Association.