SpyLoan apps have surged by 75% globally between Q2 and Q3 of 2024, targeting unsuspecting users with fake loan offers. Researchers identified 15 malicious apps on Google Play, downloaded over 8 million times, exploiting users through excessive permissions and sensitive data harvesting. These apps use deceptive marketing, mimic reputable institutions, and employ social engineering tactics to trick users, leading to financial exploitation, harassment, and privacy violations. Regions most affected include South America, Southern Asia, and Africa, with high prevalence in India, Mexico, the Philippines, and Kenya. To stay safe, users should research apps, avoid granting unnecessary permissions, and use antivirus software to detect threats. Continue here.
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