World-renowned cybersecurity company McAfee has identified 15 malicious apps that pose a critical threat to all smartphone users.
Over 8 million Android smartphone users are under critical threat for downloading 15 malicious apps. The actual danger is that these apps are available to download from the Play Store. McAfee, a globally reputed cybersecurity company, has issued an urgent warning to all Android users to immediately delete 15 threats that fall under the latest global threat category.
MacAfee has already notified Google about these apps and is awaiting quick action to remove them from its Google Play Store. While some of the reported apps have been deleted from the Play Store, others have simply been updated by the app developers.
The report highlights that most of these apps are in the loan origination category. The most common keywords in these apps are quick loans, collateral-free finance, and others. These malicious software primarily target financially weak or obligated individuals looking for a quick solution for their burdens.
To read about all the 15 apps and their process of duping users, refer to this official McAfee report.
The disguised applications, known as SplyLoan apps, dupe these users into giving up sensitive information, create backdoors for accessing other apps, and force the user to end up in extortion, harassment, and financial loss.
“SpyLoan apps are intrusive financial applications that lure users with promises of quick and flexible loans, often featuring low rates and minimal requirements. Ultimately, rather than providing genuine financial assistance, these apps can lead users into a cycle of debt and privacy violations,” said the report from McAfee.
Another disguise of these apps is the in-store user ratings, which mostly have 5 or 4 stars. While many users have clearly expressed their concerns and warnings on the review panel, most of these comments are overpowered by fake positive reviews.
According to the report, the SpyLoan apps have surged by 75% in this year’s Q2 and Q3. Most of it is due to the economic instability in many countries, which compel users to seek additional financial support.
While deleting these apps is the first step, McAfee also emphasized the importance of carefully scrutinizing the apps’ content, reviews, and too-good-to-be-true factors before downloading them. McAfee also mentioned that checking the developer’s license and registration in the country of origin is a useful resource in identifying malicious threat actors.
