Beware of 'SpyLoan' Apps: Easy Money with Deadly Consequences

ESET Research has revealed that 12 million Android users have downloaded fraudulent loan apps, known as "SpyLoan apps," from the Google Play Store since 2020. These apps, which claim to offer high-interest loans, actually steal personal and financial information from victims and blackmail them, sometimes threatening their families. The apps have grown by 90% in the first half of 2023, primarily targeting users outside of the U.S. and Europe. Google has removed the identified SpyLoan apps from the Play Store. Users have reported harassment, blackmail, and threats from the app's enforcers. The apps often impersonate legitimate fintech apps and have targeted users in countries such as Mexico, Indonesia, Thailand, Vietnam, India, Pakistan, Colombia, and Peru.