Scammers target Android users to steal their banking information.
The criminals pretend to be banks in a system that allows them to take over your phone and bank account when you answer their call, reports the Daily Record.
The cyber criminals use malware called BRATA that was previously found in dangerous apps that were able to sneak into the Google Play Store as it escaped most of the antivirus scanners.
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Cleafy, a fraud management company, has discovered the latest version of the malware that can bypass most antivirus scanners.
The company warned that this fraud could spread to European countries following attacks in Italy and Brazil.
This is how the scam works
The victims receive text messages from criminals posing as their bank.
The text includes a link to a fake website and an invitation to download a fake anti-spam app that can overtake phones with the alarming power of accessing pictures, text and screens.
The message also says that they will be contacted by their bank shortly.
Hackers then call their targets to convince them to install the app in a process that requires multiple permissions that allow criminals to take over the device.
Once installed, the scammers can remotely control victims’ phones and conduct fraudulent transactions.
The criminals can view all of the two-factor authentication codes (2FA) that a bank sends to a user when the user tries to access their internet banking account.
This is key to the scammers’ efforts, and if the crooks are successful it can cause the victims to get seriously out of pocket.
In addition, the screen recording would give hackers the usernames and passwords they need in order to access internet banking accounts in the first place.
So stay safe
To protect yourself from such texts, you should always watch out for unsolicited messages in which you are asked to provide personal information such as bank details or user names and passwords for online accounts.
Also, be wary of messages recommending that you download apps you’ve never heard of or click links that don’t look official.
If you are following this advice and you are still unsure whether a message you are receiving is legitimate or not (and it may as some scams are better camouflaged than others) then head over to the official website Your bank, find a contact number and call up to. speak to an official advisor directly.
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