A recent analysis by McAfee Labs has uncovered over a dozen malicious Android apps on the Google Play Store that have been collectively downloaded over 8 million times. The malware, known as SpyLoan, uses social engineering tactics to trick users into providing sensitive information and granting extra mobile app permissions.
The predatory loan apps, available in multiple countries including Mexico, Colombia, Senegal, Thailand, Indonesia, Vietnam, Tanzania, Peru, and Chile, claim to offer quick loans with minimal requirements. However, they actually lead users into a cycle of debt and privacy violations.
Five of the 15 apps are still available for download from the official app store, while others have made changes to comply with Google Play policies. The apps request intrusive permissions, including system information, camera access, call logs, contact lists, coarse location, and SMS messages.
To mitigate these risks, users should review app permissions, scrutinize app reviews, and confirm the legitimacy of the app developer before downloading them. McAfee warns that the threat of Android apps like SpyLoan is a global issue that exploits users’ trust and financial desperation.
The analysis suggests that new operators and cybercriminals continue to exploit these fraud activities, using similar code at app and C2 level across different continents. This modular approach allows developers to quickly distribute malicious apps tailored to various markets, exploiting local vulnerabilities while maintaining a consistent model for scamming users.
Source: https://thehackernews.com/2024/12/8-million-android-users-hit-by-spyloan.html