Russian criminals prefer Australian banks

Russian criminals prefer targeting Australian banks over their American or European counterparts, according to an expert on cybercrime in the Former Soviet Union.

Kimberly Zenz, a threat expert for iDefence intelligence services, who was presenting at the AusCERT 2008 security conference, told ZDNet.com.au that because Australia has very few banks relative to the population, criminals find it easier targeting their malware or phishing attacks.

"Australia is, unfortunately, a little too attractive [to criminals]," said Zenz.

Zenz added that, in 2006, the Russian government published a press release that valued the damage caused by Russian hackers in a year at more than US$1.6 billion.