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Over a dozen "spyloan" Android apps have been identified on the Google Play Store, new research reveals. McAfee found 15 apps posing as financial loan apps with low interest rates. But these apps are really "spyloan" apps because they swipe your personal data and may use it to extort you down the line, according to the cybersecurity firm.
The apps may collect your personal banking information, IDs, and other personal information. While some don't even issue loans at all, others will issue less than the amount you requested and charge substantial fees and higher interest rates than shown.
These apps may mimic legitimate financial institutions and use marketing tactics like countdowns and time-sensitive offers to trick users into feeling a sense of urgency. Their privacy agreements are also overreaching and harmful, and include terms that grant the app permission to view and use your SMS message contents, call histories, and contacts. It may also request access to your phone's camera.
The scammers behind these apps may then send doctored photos or porn to your contacts in an attempt to blackmail or extort you, according to user reviews of one of the apps. The perpetrators have even sent death threats and used foul language in harassing victims.
The apps have appeared in the Google Play Store in Mexico, Colombia, Indonesia, and English-speaking countries as well, based on screenshots shown in the report. Google has since removed some of the apps in question, while others have been changed a bit to remain live. McAfee's Android app will now flag these apps as potentially unwanted programs (PUPs) because of their potentially harmful effects.
Just because an app appears on Google Play or the App Store doesn't mean it's guaranteed to be safe. Malicious apps can pass review processes or otherwise slip through and appear on app stores surprisingly often. One way to make sure an app is safe before downloading is to check the developer's name and email address on the app's store page. If it's a Gmail account or other free email address, it's less likely to be safe than an app from a developer with a legitimate domain tied to a real website.
Also, read the app's reviews. Even if the app is highly rated, some of them could be fake. Others may be from victims detailing their experiences, so proceed with caution and search the web for legit reviews before downloading if you're unsure.
In addition to an Android antivirus app, you can use Google Play Protect to help keep your phone safe. If you suspect your phone might have malware, riskware, or PUPs, you can also follow our steps to assess your Android.