SEATTLE -- Internet industry leaders are gathering in Seattle for a two-day summit to fight online crime.

Industry leaders from Craiglist, MySpace, PayPal and others are expected to attend the meeting at the Westin in downtown Seattle.

Last year, phishing scams -- where people send e-mails and use other techniques to try and get your personal information -- cost businesses and personal computer users more than $3 billion.

Craig Spiezle works for Microsoft and the Authentication and Online Trust Alliance, which is sponsoring the summit.

He said it's not going to be just government regulations or company morality that will stop the problem.

Spiezle, who has teenage children himself, said it will take a collaborative effort and parents play a major role when it comes to underage online safety.

"Children sometimes feel they can be anonymous and they’ll share information. They flirt with danger," Spiezle said. "(Use) good judgment, like you do in public. You wouldn't go up to a stranger in the mall, sharing information about yourself and you shouldn't on the Internet, either."

Spiezle suggests parents only allow computers in common areas of the house, so everyone can see what's going on, placing hours of restriction and guidelines on computer use.