AUSTRALIA hosts the world's sixth-largest underground economy, based on the number of servers identified as hosting stolen information and fraud tools, according to startling research by security software maker Symantec.

The results suggest there is a thriving local black market in which credit card and bank account details, malicious software such as phishing kits, and "cashier" services are regularly traded online by criminals and specialist suppliers.

Symantec Pacific vice-president Craig Scroggie said the Underground Economy report showed that crime gangs had used the internet to establish a criminal business model that was mature and self-sustaining.

Symantec monitored servers identified as supporting the underground economy globally for 12 months between July 2007 and June 2008.

It found that the advertised information and fraud-related services were worth more than $276 million to the online traders. The value of funds available collectively on the stolen credit cards was estimated to be $US5.3 billion ($8.5 billion).

"In Australia we hosted the sixth highest percentage of underground economy servers, accounting for 4 per cent of the total identified globally," Mr Scroggie said.

"Some of the largest underground activity in the IRC networks was observed on servers in Australia, while the 14th longest active underground server had a local address."

On software piracy, Symantec found that Australia was ranked 10th in the number of illegal downloads of computer games and specialist multimedia and business applications by country (excluding music and video file piracy).

The nation also ranked 10th in the number of users making software files available for illegal copying.

Symantec's figures are far higher than the latest Australian Institute of Criminology Underground Markets in Stolen Digital Information Review, in May 2007, in which Australia was not in the top 10.