Russian scammers used key logging Trojans to steal more than a €1m from French people accessing online bank accounts.

The Trojans were sent by email but were not activated until people accessed their online bank accounts. Then the Trojan forwarded on user names and passwords to the crooks.

The thieves then used the details to transfer funds to third party "mule" accounts. The worst individual loss was €40,000. French police were told in November 2004 and the scam lasted 11 months.

Arrests have been made in Moscow and St Petersburg and several "Ukrainian masterminds" have also had their collars felt.

More details from the Guardian here.®