Australia

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The malware is powerful — it can record your calls, harvest your contacts, evade antivirus, bypass multi-factor authentication, log what you type and send you text messages.

Exclusive new data obtained by the ABC has uncovered what appears to be the first major distribution campaign of the malware, with Australians identified as specific targets.

This latest campaign against Australians was uncovered by Dario Durando, a senior threat analyst from ThreatFabric, a banking security platform based in the Netherlands.

An advertisement spruiking Octo boasts the malware has a "high survival rate", gives hackers "full device control" and has the ability to steal two-factor authentication codes.

Eward Driehuis, vice president of fraud engineering at ThreatFabric, said the group responsible for Octo was Russian-speaking and possibly linked to the Russian cybercrime underworld.

Stephanie Tonkin from the Consumer Action Law Centre said Australian banks weren't doing enough to protect customers, who were being hoodwinked by increasingly sophisticated scams.

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