A warning has been issued by McAfee’s mobile research team about a global threat exploiting social engineering that has infected over 8 million phones. These “SpyLoan” apps, also known as predatory loan apps, use tactics such as social engineering and permission abuse to trick users into providing sensitive information.
The apps, available on the official Google Play Store, claim to offer quick and flexible loans with low rates and minimal requirements. However, they often lead to extortion, harassment, and financial loss. McAfee has identified 15 apps with over 8 million installations that use this tactic.
Google has removed some of these apps from its store, but others have been updated or continue to pose a threat. Users are advised to check if they have any installed and remove them immediately. The apps operate in a grey area between permission abuse and malicious business practices.
Experts warn that these apps can create a cycle of debt and privacy violations, making them difficult to detect even when vetted by app store processes. To avoid falling victim, users should only install reputable loan apps and ensure their device is running the latest security updates and Google Play Protect is enabled.
Symptoms of potential infection include alerts about viruses or infected devices, decreased operating speed, and unwanted pop-up ads. If you experience any of these symptoms, check for Android security updates and remove untrusted apps immediately.
Source: https://www.forbes.com/sites/zakdoffman/2024/11/26/delete-these-15-dangerous-apps-on-your-phone-8-million-installs-so-far