The Android platform is now riddled with scam apps that can hijack user’s personal data.
Cybersecurity experts ESET says there has been an 88 per cent increase in the number of SpyLoan loan apps that can steal sensitive information from infected Android devices
This has led to a 19 per cent overall growth in the Android Spyware category and a 20 per cent increase in Android threat detections.
Deceptive Android loan apps such as SpyLoan masquerade as legitimate personal loan services, promising users quick and easy access to funds.
However, they are designed to defraud users and gain their personal and financial information. It doesn’t matter whether a person applies for or even receives a loan. The app’s enforcers will harass and blackmail their victims regardless says ESET.
The apps are pushed through social media and SMS messages offering personal loans. They are also available on official app stores such as Google Play.
Rogue apps can steal sensitive information from infected Android devices
ESET says Android s being “ swamped” by scams such as Adware, HiddenApps, and Clickers, which now account for over two-thirds of all Android detections.
ESET’s H1 Threat Intelligence Report says Android is firmly in the crosshairs of the cybercriminal community right now.
“ Android is the most popular operating system worldwide by quite some distance, with over seven-in-ten mobile devices now running on it. This makes any threat that targets the operating system extremely deep-reaching,” said ESAT security advisor Jake Moore.
Moore: Android’s popularity makes threats deep reaching
“Fraudulent loan apps such as SpyLoan are the lowest of the low. Individuals seeking quick financial assistance during the cost-of-living crisis are met with death threats and digital usury practices,” comments Moore.
“ It is crucial to ensure that any apps are downloaded only from official app stores, check reviews before installation, and have an active digital security app in place,” adds Technical Pre-Sales Engineer, Raj Kapoor, ESET.