Another great article from Brian Krebs. This one shows some really detailed info about what goes on behind the scenes in a "phishing racket".
The fact that this type of activity is now being made available to mainstream opportunists is a double-edged sword. While the prevalence is increasing, it allows allows researchers more opportunities to capitalize on amateurs making mistakes. This was just one such case.
This SC based research organization found this phisher's "back door" and watched it.