Beware! 17 Finance Apps Infected with Malware on Your Smartphone
Tech-sperts are warning smartphone users to delete 17 popular finance apps that have been found to be infected with malware. These digital Trojan horses have the potential to steal sensitive data from your phone, such as financial information. Known as SpyLoan apps, these problematic apps have been prevalent in Google’s Play Store — and some have been discovered in Apple’s App Store as well, Forbes reported last month.
SpyLoan Apps: The Scam Threatening Your Financial Data
“Since the beginning of 2023, [our] researchers have observed an alarming growth of deceptive Android loan apps,” Lukas Stefanko, of the cybersecurity firm ESET, wrote in a post. He explained that these insidious apps — which can also be found on scam websites and in third-party app stores — masquerade “as legitimate personal loan services, promising quick and easy access to funds.” However, once downloaded, these digital wolves in sheep’s clothing install sophisticated malware that can “extract a wide range of personal information from unsuspecting users,” per ESET. Oft-hijacked data includes everything from account details to contact lists and even SMS texts.
How to Identify and Delete SpyLoan Apps from Your Phone
ESET has since alerted Google to 18 such apps in its Play Store — with all but one removed because it’s no longer deemed a SpyLoan app. Overall, these apps generated more than 12 million downloads from Google Play before their removal, ESET noted. The 17 apps that should be deleted from smartphones are:
- AA Kredit
- Amor Cash
- GuayabaCash
- EasyCredit
- Cashwow
- CrediBus
- FlashLoan
- PréstamosCrédito
- Préstamos De Crédito-YumiCash
- Go Crédito
- Instantáneo Préstamo
- Cartera grande
- Rápido Crédito
- Finupp Lending
- 4S Cash
- TrueNaira
- EasyCash
Users who discover any of these apps on their phone should delete them immediately, before changing passwords for their device, financial accounts, and Wi-Fi. They should also be on the lookout for symptoms of a potential malware infection, including suspicious emails or alerts. In the meantime, smartphone users should install antivirus software, keep up with phone updates, refrain from downloading apps from third-party sources, and take other protective measures against the risk of contracting malware.
Alarming Growth of Deceptive Android Loan Apps, Warns Cybersecurity Firm
According to cybersecurity firm ESET, there has been an alarming growth of deceptive Android loan apps since the beginning of 2023. These apps, known as SpyLoan apps, deceive users by posing as legitimate personal loan services, offering quick and easy access to funds. However, they install malware on users’ smartphones, enabling them to extract personal information such as account details and contact lists. ESET has identified and reported 18 such apps to Google, resulting in the removal of all but one from the Play Store. These apps had already amassed over 12 million downloads before being taken down.
Protect Yourself from App-ocalypse: Tips to Avoid Malware on Your Smartphone
To protect yourself from malware on your smartphone, it is crucial to take certain precautions. Firstly, always be cautious when downloading apps and stick to trusted sources like official app stores. Avoid downloading apps from third-party websites or stores, as they are more likely to contain malware. Additionally, keep your smartphone’s operating system and apps up to date, as developers regularly release security patches and updates to fix vulnerabilities. Installing reputable antivirus software can also provide an extra layer of protection against malware. Lastly, be vigilant and wary of suspicious emails, alerts, or unexpected requests for personal information, as these could be indicators of a malware infection. By following these tips, you can safeguard your smartphone and avoid falling victim to the app-ocalypse.
Analyst comment
Negative news: Beware! 17 Finance Apps Infected with Malware on Your Smartphone
As an analyst, the market for finance apps is likely to be negatively impacted by the discovery of malware in popular apps. Users may become cautious and uninstall finance apps, leading to a potential decrease in downloads and usage. App developers will need to ensure the security of their apps to regain consumer trust.
