How Your Money Can Be Stolen with an Android Phone

Beware of Malware Disguised as Antivirus Apps

In the past week, numerous Android users have unwittingly installed a so-called “antivirus protection” on their phones that is actually a malware designed to steal banking credentials and money from customers.
This alarming discovery was made by the Finnish Transport and Communications Agency’s Cyber Security Center, which promptly issued a public warning to citizens.

The Phishing Strategy Unveiled

According to the weekly analysis on Android malware conducted by the Finnish agency, a new online scam has been identified targeting users’ banking credentials.
The scam starts with a simple SMS message in Finnish, prompting individuals to call a specified service number.
These phishing messages are sent on behalf of various companies, increasing the likelihood of finding a victim willing to immediately contact their bank.

The phishing message is so persuasive that many individuals have been persuaded to download a supposed “security app” on their phones, which in reality compromises their personal data and steals money from their bank accounts.
While this scam has, for now, only been reported in Finland, there is a possibility that it may spread to other countries.
Therefore, readers should be aware of the phishing strategies employed in this particular scam and how to protect themselves if they realize they have downloaded the infected “antivirus.”

How the Scam Operates

The scam starts with an SMS instructing customers to contact a service number.
Upon calling, customers are informed that they are at risk of fraud and advised to download an antivirus protection for their phone.
The entire scenario is a setup to deceive individuals.
By warning people of “imminent dangers,” the scammers aim to gain the victims’ trust and esteem.

During the call, users receive a second message prompting them to download an “antivirus application.” Although the application appears to be McAfee antivirus, it actually leads to an external download site, fooling users into installing the malicious software as requested.
Subsequently, cybercriminals can access the phone’s messages, applications, and even online banking credentials to steal money through malware.

Actions to Take if Infected

If you realize that you have installed a fake “antivirus” or any other type of malware, simply turning off the phone is not enough to prevent hackers from accessing your banking credentials and personal data.
There is a risk that your passwords may have been compromised.

It is crucial not to panic and act promptly.
The first step is to contact your bank immediately to limit any unauthorized access.
Secondly, perform a factory reset on your phone.
Furthermore, if you suspect that cybercriminals have obtained your personal data through a phishing attack, contact the relevant official entity (such as your bank or post office), change your passwords, and file an official report.

Stay vigilant and protect your personal information from online threats.