Security

Trouble in Florida: The Genesis of Phishing Attacks on Australian Banks

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Executive Summary

Off late Phishing of Internet banks is a well know problem and globally is responsible for more than US$3 billion in fraud annually. To date there has been limited research into the individuals and groups responsible for these attacks. Considerable anecdotal evidence exists to suggest that transnational organised crime groups are involved in Phishing. The involvement of these groups, particularly those operating out of Eastern Europe, is of concern given their sophistication and resources. Earlier work by CRL@mq looked at a month of Phishing against one Australian financial institution and clustering indicative of a small number of groups being responsible was seen. To get a better picture of the nature of the groups behind Phishing it now looks back to the genesis of attacks against Internet banks.

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