A warning is given to an Android banking scam that steals money when you answer the phone

A warning is given to an Android banking scam that steals money when you answer the phone

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  • The company warned that this scam could spread to European countries after attacks in Italy and Brazil. Here’s how the scam works – first, victims will be sent a text from criminals posing as their bank. The text contains a link to a fake site and an invitation to download a fake anti-spam app that can overtake phones with the alarming power to access pictures, texts and record screens. The message also says they will shortly be contacted by their bank.

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Hackers will then call their targets to convince them to install the app in a process that requires multiple permissions which will allow criminals to take over the device. Once installed, the scammers can remotely control victims’ phones and make fraudulent transactions. The criminals will be able to view any two factor authentication (2FA) codes a bank sends to a user when they’re trying to access their internet banking account.

This is key to the scammers efforts, and if the cyber crooks are successful, could lead to victims being severely out of pocket. Additionally, screen recording would give hackers the usernames and passwords they need to access internet banking accounts in the first place. In order to stay safe from such texts, always beware of any unsolicited messages you receive asking you to hand over personal information such as bank details, or usernames and passwords for online accounts.

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