Microsoft said it is working with law enforcement to crack down on phishing, filing 129 suits across Europe and the Middle East. Already, at least five have settled, including four cases against teens that were settled out of court, and a two and a half year prison term for a Turkish man.

These phishing suits target those who attempt to trick Web users into disclosing personal banking information. The number of attacks involving bank information have doubled during the first half of this year, says security firm Symantec.

In 97 of the suits, Microsoft or its co-plaintiffs have provided information against the defendant. While many are criminal proceedings, some are civil lawsuits involving young people, who may not necessarily have criminal intent. In many cases, a 1,000-2,000 euro settlement is reached.

Of these cases, most of the criminal suits were filed in Turkey, followed by Germany and France. The majority of civil suits were filed in Britain, the company says.

While Microsoft is not the target of these attacks, it can claim damage to its image under the laws of some countries. Phishing is indeed affecting everyone - Gartner estimates that in just this year alone damages will be around $2.8 billion.