2 weeks Ago By [email protected] (Dave Snelling)
There's a new type of 'threat' Android users need to be wary of, and ignoring it could leave many at risk of losing money and being harassed online. The latest nightmare for owners of these popular Google-powered devices comes in the form of something called SpyLoan attacks. This relatively new danger has just been spotted by the security team at McAfee with millions already thought to have been targeted.
The threat starts when the user downloads enticing-looking apps that promise to offer cheap and easy ways to access some extra money. Some of these applications have even appeared on Google's own Play Store which has meant they've registered millions of downloads. Once installed, the software then uses a number of clever tactics in a bid to get people to sign up without thinking.
These include countdown timers to add urgency along with the promise of cheap, quick and flexible loans. Sadly, there's little reward for taking advantage of these loans with the software asking for personal data, including bank details, passport-style photos and home addresses. McAfee also says that the software tries to get users to agree to worrying permissions such as contacts, SMS, storage, calendar, phone call records and even microphone or camera.
Those who comply are often then hit with high interest rates, which, if not paid, leads to them being harassed and intimidated. There have even been reports of family members being sent messages as well. McAfee says as soon as it discovered the issue, it reported all of the apps to Google .
The US technology giant has since notified the developers that their software violates its Google Play policies, and fixes are needed to come into compliance. Some apps have also since been fully suspended from Google Play, while others were updated by the developers to make sure they now comply. For now, all of the SpyLoan attacks have taken place outside of the UK and Europe, but McAfee says all users still need to remain alert.
"The threat of Android apps like SpyLoan is a global issue that exploits users’ trust and financial desperation. These apps leverage social engineering to bypass technical security measures and inflict significant harm on individuals. Despite law enforcement actions to capture multiple groups linked to the operation of SpyLoan apps, new operators and cybercriminals continue to exploit these fraud activities" To help you stay safe, McAfee has released some important guidance and tips to avoid becoming a victim of scams and online threats.
How To Protect Yourself • Be Cautious with Permissions • Review Permissions Carefully: Be wary of apps requesting permissions that seem unnecessary for their function. • Limit Permissions: Deny permissions that are not essential. • Verify App Legitimacy • Read User Reviews: Look for patterns of complaints about fraud or data misuse, pay special attention in apps with polarized reviews that might contain fake positive reviews.
• Research the Developer: Look up the developer’s name, website, and reviews. Even if the app contains privacy policy which is mandatory on Google Play this might not be honored by scammers. • Don’t Share Sensitive Information: Provide personal data only to trusted and verified entities.
• Be Skeptical of Unrealistic Offers: If it sounds too good to be true, it probably is..
