Russian hackers have been detected trying to rip cash from online share trading accounts at some of Australia’s biggest brokers, including Morgan Stanley and Commsec.
A joint operation by the corporate watchdog ASIC and the Australian Federal Police, dubbed Operation Emerald, has been investigating internet hacking, market manipulation and money laundering operations involving an overseas account traded through Morgan Stanley Australia Securities. ASIC’s surveillance systems also detected unauthorised trades by a suspected Russian hacker who got into a number of retail accounts at Commonwealth Securities, Etrade Australia and Australian Investment Exchange Limited.


They then use that money to buy, at an inflated prices, the cheap shares in the account in Europe, effectively moving cash from Australia. They then buy a lot of penny dreadful shares, the cheaper the better, at a fraction of a cent each.
Once they’re in, they sell all the shares in the Australian account, building a large cash balance.





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