There are no 'stick-em-up' dramatics in today's million-dollar bank heists, it simply involves the use of SSL-evading Trojans and refined phishing techniques.

While banks are reluctant to quantify financial losses, Australia's Computer Emergency Response Team (AusCert) admits its own research proves attacks are on the rise.

AusCert general manager Graham Ingram said a false sense of security surrounds SSL encryption, a technology in use right across the financial services industry.

This reliance on Internet browser encryption means banking sessions can be hijacked by Trojans and key-logging programs especially if users engage in lax security protocols and don't use current anti-virus signatures.

The bottom line is that social engineering tricks are circumventing Internet banking encryption.