In the digital age, our smartphones have become an extension of ourselves, storing a wealth of personal and financial information.

However, this convenience also opens up new avenues for cybercriminals to exploit unsuspecting users.

Recently, tech experts have identified 17 finance apps that are infected with malware, posing a significant threat to Android and Apple phone users.

These malicious apps, discovered on Google’s Play Store and Apple’s App Store, are designed to steal sensitive data, including financial information.

According to cybersecurity firm ESET, these apps have seen an 'alarming growth' throughout 2023, masquerading as legitimate personal loan services that promise quick and easy access to money.

Apps masquerading as legitimate personal loan services are found to be fraudulent. Image source: PhoneArena.

Dubbed 'SpyLoan' by ESET, these apps are far from the legitimate services they claim to be.

Instead, they are carefully crafted tools of deception, designed to defraud users by stealing their personal and financial information.

The ultimate goal? To blackmail users and gain access to their funds.

Once downloaded, these malicious apps request the user to accept their terms of service and grant permissions to access sensitive data stored on their device.

This includes call logs, contact lists, device information, calendar events, lists of installed apps, local Wi-Fi network information, and even location data.

'We believe the real purpose of these permissions is to spy on the users of these apps and harass and blackmail them and their contacts,' ESET’s Lukas Stefanko claimed.

The victims are often lured in through marketing on social media and text messages, with the apps available to download from dedicated scam websites and third-party app stores.

While the 16 apps have since been removed from the app stores, experts are urging users to check whether they have already downloaded them and delete them immediately.

The list of these dangerous apps can be found below:

​

One app remains available as the developers have changed its functionality and is no longer considered harmful.

How to Safeguard Your Smartphone

In the face of such threats, it's crucial to take steps to safeguard your smartphone. Here are some tips:

1. Stick to official sources: Always download apps from the official app stores. While they're not immune to hosting malicious apps, they have stringent security measures in place to minimise the risk.

2. Scrutinise app reviews: Before downloading an app, read the reviews. Look out for any red flags, such as complaints about intrusive permissions or unexpected charges.

3. Read the app’s privacy policy: It might be tedious, but it's worth taking the time to read the app’s privacy policy before accepting. This document should clearly outline what data the app collects and how it's used.

4. Ensure that your software is up-to-date: An outdated software makes a phone more vulnerable to hacking. Regularly check for software updates and install them as soon as they become available. You can read more about this here.

Key Takeaways

• Tech experts warned about 17 finance apps infected with malware found in Google's Play Store and Apple's App Store.
• The apps, identified as 'SpyLoan' by ESET, are deceptive loan service apps that steal personal and financial data to blackmail users.
• The malware gains access to a variety of sensitive information including call logs, location data, and contact lists.
• Users are advised to delete any of these apps if they have downloaded them and to protect themselves by using only official app sources.

Members, have you seen any of these apps? Do you have other tips on how to stay safe from dodgy apps? Let us know in the comments below!

 

[Suzanne rose]

I've never heard of any of those

 

[Catherines]

Never seen or heard of these. That’s why I don’t use apps. I don’t need them and my life still goes on without any rubbish apps.

 

[Ronloby]

No apps, no problems.

 

[Petra]

I have no apps on my phone.

 

[Singomate]

In the digital age, our smartphones have become an extension of ourselves, storing a wealth of personal and financial information.

However, this convenience also opens up new avenues for cybercriminals to exploit unsuspecting users.

Recently, tech experts have identified 17 finance apps that are infected with malware, posing a significant threat to Android and Apple phone users.

These malicious apps, discovered on Google’s Play Store and Apple’s App Store, are designed to steal sensitive data, including financial information.

According to cybersecurity firm ESET, these apps have seen an 'alarming growth' throughout 2023, masquerading as legitimate personal loan services that promise quick and easy access to money.

View attachment 38829

Apps masquerading as legitimate personal loan services are found to be fraudulent. Image source: PhoneArena.

Dubbed 'SpyLoan' by ESET, these apps are far from the legitimate services they claim to be.

Instead, they are carefully crafted tools of deception, designed to defraud users by stealing their personal and financial information.

The ultimate goal? To blackmail users and gain access to their funds.

Once downloaded, these malicious apps request the user to accept their terms of service and grant permissions to access sensitive data stored on their device.

This includes call logs, contact lists, device information, calendar events, lists of installed apps, local Wi-Fi network information, and even location data.

'We believe the real purpose of these permissions is to spy on the users of these apps and harass and blackmail them and their contacts,' ESET’s Lukas Stefanko claimed.

The victims are often lured in through marketing on social media and text messages, with the apps available to download from dedicated scam websites and third-party app stores.

While the 16 apps have since been removed from the app stores, experts are urging users to check whether they have already downloaded them and delete them immediately.

The list of these dangerous apps can be found below:

​

One app remains available as the developers have changed its functionality and is no longer considered harmful.

How to Safeguard Your Smartphone

In the face of such threats, it's crucial to take steps to safeguard your smartphone. Here are some tips:

1. Stick to official sources: Always download apps from the official app stores. While they're not immune to hosting malicious apps, they have stringent security measures in place to minimise the risk.

2. Scrutinise app reviews: Before downloading an app, read the reviews. Look out for any red flags, such as complaints about intrusive permissions or unexpected charges.

3. Read the app’s privacy policy: It might be tedious, but it's worth taking the time to read the app’s privacy policy before accepting. This document should clearly outline what data the app collects and how it's used.

4. Ensure that your software is up-to-date: An outdated software makes a phone more vulnerable to hacking. Regularly check for software updates and install them as soon as they become available. You can read more about this here.

Key Takeaways

• Tech experts warned about 17 finance apps infected with malware found in Google's Play Store and Apple's App Store.
• The apps, identified as 'SpyLoan' by ESET, are deceptive loan service apps that steal personal and financial data to blackmail users.
• The malware gains access to a variety of sensitive information including call logs, location data, and contact lists.
• Users are advised to delete any of these apps if they have downloaded them and to protect themselves by using only official app sources.

Members, have you seen any of these apps? Do you have other tips on how to stay safe from dodgy apps? Let us know in the comments below!

I have had a constant problem with the Linked app telling me I am overdue on a toll payment, which is not the case. I think a lot of these apps have little protection against scammers, have screenshot and sent to the real people but it's still happening. Yes it's a pain in the butt what can you do,even the Government has problems

 

[Liz]

Why dont' we just delete all apps from our phones and only be able to ring and text. Make life a bit simpler.

 

[WADuck]

Why dont' we just delete all apps from our phones and only be able to ring and text. Make life a bit simpler.

Hear! hear! Liz

 

[Catherines]

Hear! hear! Liz

AGREE WHOLE HEARTEDLY!!!!!!!!!!!!

 

[Da Freddo]

Personal loans through your phone, Are you joking?
That's why BANKS ARE HERE.
Walk in apply for a loan walk out,
safe as houses the only safe way. !!!

 

[RieTreesSilver]

Why dont' we just delete all apps from our phones and only be able to ring and text. Make life a bit simpler.

Isn't that what the device was originally designed for not to keep human interaction at bay

 

[rehandra]

In the digital age, our smartphones have become an extension of ourselves, storing a wealth of personal and financial information.

However, this convenience also opens up new avenues for cybercriminals to exploit unsuspecting users.

Recently, tech experts have identified 17 finance apps that are infected with malware, posing a significant threat to Android and Apple phone users.

These malicious apps, discovered on Google’s Play Store and Apple’s App Store, are designed to steal sensitive data, including financial information.

According to cybersecurity firm ESET, these apps have seen an 'alarming growth' throughout 2023, masquerading as legitimate personal loan services that promise quick and easy access to money.

View attachment 38829

Apps masquerading as legitimate personal loan services are found to be fraudulent. Image source: PhoneArena.

Dubbed 'SpyLoan' by ESET, these apps are far from the legitimate services they claim to be.

Instead, they are carefully crafted tools of deception, designed to defraud users by stealing their personal and financial information.

The ultimate goal? To blackmail users and gain access to their funds.

Once downloaded, these malicious apps request the user to accept their terms of service and grant permissions to access sensitive data stored on their device.

This includes call logs, contact lists, device information, calendar events, lists of installed apps, local Wi-Fi network information, and even location data.

'We believe the real purpose of these permissions is to spy on the users of these apps and harass and blackmail them and their contacts,' ESET’s Lukas Stefanko claimed.

The victims are often lured in through marketing on social media and text messages, with the apps available to download from dedicated scam websites and third-party app stores.

While the 16 apps have since been removed from the app stores, experts are urging users to check whether they have already downloaded them and delete them immediately.

The list of these dangerous apps can be found below:

​

One app remains available as the developers have changed its functionality and is no longer considered harmful.

How to Safeguard Your Smartphone

In the face of such threats, it's crucial to take steps to safeguard your smartphone. Here are some tips:

1. Stick to official sources: Always download apps from the official app stores. While they're not immune to hosting malicious apps, they have stringent security measures in place to minimise the risk.

2. Scrutinise app reviews: Before downloading an app, read the reviews. Look out for any red flags, such as complaints about intrusive permissions or unexpected charges.

3. Read the app’s privacy policy: It might be tedious, but it's worth taking the time to read the app’s privacy policy before accepting. This document should clearly outline what data the app collects and how it's used.

4. Ensure that your software is up-to-date: An outdated software makes a phone more vulnerable to hacking. Regularly check for software updates and install them as soon as they become available. You can read more about this here.

Key Takeaways

• Tech experts warned about 17 finance apps infected with malware found in Google's Play Store and Apple's App Store.
• The apps, identified as 'SpyLoan' by ESET, are deceptive loan service apps that steal personal and financial data to blackmail users.
• The malware gains access to a variety of sensitive information including call logs, location data, and contact lists.
• Users are advised to delete any of these apps if they have downloaded them and to protect themselves by using only official app sources.

Members, have you seen any of these apps? Do you have other tips on how to stay safe from dodgy apps? Let us know in the comments below!

I do not have many apps on my phone at all. Very cautious of what I put on my smartphone

 

[Catherines]

Might be one of the purposes of having a mobile phone, but with scammers aplenty today the best and safest way is to delete all extra apps.

 

[David567]

This is why you should have good security on your phone. It might cost you but security is a must and might just save you from being hacked and being ripped off. A good VPN is also worth every cent especially when using banking apps on your phone. Many hackers are detered by security and VPN because it's harder and takes a lot more effort to hack you and higher chance of being caught.

 

[Aidal]

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What do you think what is safer to buy: an iPhone or an Android?