The Internet Commerce Security Laboratory (ICSL) has begun work with US-based security company PhishLabs on analysing malware. PhishLabs is a fast-growing company that provides cybercrime protection and intelligence services. Their clients including many of the most targeted businesses in the world, including 4 of the top 5 US financial institutions, and several banks in Australia and New Zealand.

The project will seek to gather intelligence on malware activity, looking to work out who is being attacked and how. The project will result in advances in the detection and prevention of attacks from some of the world's most dangerous malware. The main target is a piece of malware that is designed to steal online banking credentials, with the project aiming to work out how this theft occurs. The current estimates of the losses due to online banking malware run into millions of dollars each year.

“We’re very pleased to work with ICSL and Dr. Robert Layton on this project,” said John LaCour, Founder and CEO of PhishLabs. “The intelligence it produces will help protect businesses and individuals from cybercrime and online fraud.”. 

ICSL Research Fellow, Dr Robert Layton, said "the project is very interesting, aiming to look for ways to make malware give up it's secrets". Dr Layton will be working with ICSL PhD student Paul Black on this project.