An Eastern European criminal has hacked into an Australian business and stolen more than 500,000 credit card numbers from the company’s network.

Police have said the network was setup by some local company who didn’t understand IT Security so it was a “disaster waiting to happen.”

The syndicate found it’s victims by scanning the Internet for vulnerable POS terminals.

The syndicate captured credit card details using keyloggers installed within Point of Sale (POS) terminals and siphoned the data through an insecure open Microsoft’s Remote Desktop Protocol (RDP) connection.

The attack could result in more than $25 million in fraudulent transactions.

The criminal more than likely setup in an IRC channel that sells credit card numbers. If you are familiar with the Internet at all, you know that it’s very easy to obtain someones stolen credit card number in one of the larger IRC networks.

This attack wasn’t something uber-technical. It could have been done with a couple exploit kits and some SQL injection.

The incident comes less than a month after Korea’s KT Telecom revealed that hackers had grabbed data from some 8.7 million customers.