Computer security firm McAfee has sent an alert to banks throughout the US that a Russian “cyber-gangster” using the alias “Thief-In-Law” is preparing a massive assault on the banking system.

The cyber-criminal has reportedly infected hundreds of computers in the US with the intent of stealing their bank account information. The information would then be used to pull money from their account and that of other people on the same banking system.

The operation is being called “Project Blitzkrieg” and has infected at least 600 computers nationwide but others possibly infected. If a system is not using the McAfee anti-virus program the company cannot track infections.

Cambridge University researchers said that malware used by criminals like “Thief-In-Law” cost $690 million a year globally.

Banking industry officials are confident they will be able to stop the planned assault.