Microsoft Takes Down Botnets Of Online Banking Thieves

Microsoft (NSDQ:MSFT) has taken down a number of malware-spreading botnets that infected millions of computers worldwide and stole more than $100 million from financial institutions and other businesses.
Under the escort of U.S. Marshals and with a warrant from a federal judge, Microsoft and two other co-plaintiffs in a lawsuit against the unidentified botnet operators seized command-and-control servers in Lombard, Ill., and Scranton, Penn., the Redmond, Wash.-based software maker said late Sunday. A federal court in New York granted permission for the seizure, which included taking control of 800 domains used in the criminal network.
According to court papers, Microsoft disrupted a botnet of 13 million computers, including 3 million in the U.S., that spread the Zeus family of malware that included the SpyEye and Ice-IX variants. The malware tracks a computer user's online activity and records keystrokes, so it can steal the user name and password when a victim visits an online banking site.
The Zeus-related malware has caused more than a half-billion dollars in damages to businesses, according to Microsoft. The botnets taken down Friday following a month-long investigation stole more than $100 million over the last five years.

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RBA calls big banks' bluff on funding costs

The central bank this week confirmed suspicions that the big four are using margins as a lever to maintain profitability, writes Eric Johnston.

Is the Reserve Bank ever-so-gently putting pressure on the big banks to revisit their mortgage rates? A string of speeches by top RBA officials in recent weeks as well as several reports have put the focus on the other side of the long-running and dogged debate about commercial banks, funding costs and mortgage rates.
The big four banks pushed through as much as 15 basis points in interest rate rises on mortgages this month, even as the Reserve kept cash rates on hold. They argued the move was necessary, given the sharp run-up in funding costs following Europe's debt problems.
The focus will again switch to how the banks will respond to the RBA's regular board meeting next week.