PricewaterhouseCoopers has said this week that the firm definitely would not participate in a bid process identifying firms that could help the Securities and Exchange Commission monitor Web sites.
PWC said the SEC's online version of 'wire tapping' might invade the privacy of otherwise innocent people. The accounting firm, along with more than 100 other companies, were invited in January to submit a bid on an automatic surveillance system.
The SEC is collecting data from online chat rooms, Web sites and forums to identify potential fraud schemes. The process currently is being conducted by the SEC manually.