Is this the moment legendary street artist Banksy was finally caught in the act down a Melbourne alleyway?

AN Aussie claims to have caught mysterious street artist Banksy painting his latest work.

Filmed in Melbourne, a woman behind the camera turns down an alley in the middle of the night and notices the shadowy figure daubing paint onto a wall.

Speaking to an unseen friend, she whispers: "Is that Banksy?"

The pair walk towards the spot where the man - who has now fled - was standing and find a painting remarkably similar to those made famous by the Bristolian artist.

It is later revealed to be an image of Aussie anti-immigration politician Pauline Hanson.

The base of the wall is signed "Banksy".

The pair pursue their target, calling after him, and when they finally reach him it reveals a bespectacled man whose face is half covered.

He lashes out with a muffled cry before running off onto an adjoining street.

The video was uploaded to YouTube yesterday and has been viewed several hundred times.

Mia S, who uploaded the footage, wrote: "So I was walking home from work late last night and I was watching a street artist doing a piece in hosier lane.

"I double backed and pulled out my phone as he was finishing up. Can't believe I just met Banksy!"

But viewers were quick to cast doubt on the clip.

One sceptic said: "This could only be official if it's on his website. Personally, I do not think it is real as he usually doesn't sign his pieces.

"People usually know when it's him."

While another added: "Hahahahahha... No... No no no. This is very fake. Nice try though."

Mystery surrounds the identity of Banksy - who is famous for his satirical murals.

He first burst onto prominence in the early nineties as a graffiti artist whose works highlighted corruption and inequality in society with a smattering of humour.

The pictures have fetched as much as £550,000 at auction.

Only last month a sleuth claimed he had identified him as member of Massive Attack Robert ‘3D’ Del Naja.

Craig Williams cross-referenced the Bristol band's gigs and found they often coincided with the latest Banksy works around the globe.

Speculation regarding Banksy's identity has long been aimed at former public schoolboy Robin Gunningham.

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