SpyLoan: New malware for Android promises loans to steal data

Security company ESET has submitted a new report with details. A dangerous malware was found Google Play store. SpyLoan is a set of malicious applications that can steal data when installed on Android devices.

These fake tools disguise themselves as loan apps and other financial services, looking for potential victims who need quick money. The scam has been present since 2020, but distribution of the malware has increased significantly and peaked in recent months.

Most cases have been recorded in countries such as Mexico, Thailand, India, Indonesia, Singapore, Colombia and Peru; Some applications disguised themselves as real banks that do not have such applications. About 12 million downloads recorded on the Android virtual store only in applications discovered by ESET.

How does SpyLoan work?

SpyLoan’s fake apps are mainly installed when the user receives a message stating the tool via SMS or social media.

By installing malware thinking it is a real financial institution, the victim is tricked into agreeing to confusing terms of service and gives criminals access to a range of device data, including call logs.

The app then asks for user registration, which includes a set of personal and contact information as well as some banking details. Equal credit card photo and selfie are requiredWith the excuse that this was a way to get the loan.

In addition to having information at their disposal to carry out various financial frauds, criminals also Contact victims to expose theft and blackmailHe even threatens the person’s family and demands some money.

According to the ESET report, after the warning; HE Google 17 of 18 utilities flagged as malicious have been removed and we changed almost all the permissions of the remaining apps. Financial institutions whose names were used in a criminal manner were also informed.