People are warned about terrible Android errors that could cost you thousands

EXPERTS have uncovered a dangerous bunch of apps preying on vulnerable people struggling with money worries.

Malicious scammers lend money but secretly steal data and later threaten you with extremely high interest rates.

One of the apps has been downloaded more than 100,000 times.


One of the apps has been downloaded more than 100,000 times.Photo credit: Zimperium

The apps are not available in the official Google Play Store.

Instead, they lurk on the broader internet, where their dubious intentions are harder to spot.

These are usually found through social media, compromised websites, deceptive ads, and phishing messages.

Despite this, cybersecurity company Zimperium estimates that they have been downloaded more than 100,000 times.

They promise quick money in just a few steps.

It’s part of a campaign called “MoneyMonger” that requests certain permissions on your phone.

The “predatory” apps claim that they should check if you have a good reputation in order to get the loan.

“This gives the victim confidence to enable the very insightful local permissions on the devices, allowing the malicious actors to steal private information from the endpoint,” explains Zimperium.

In the background, the apps get all possible access rights to the camera, contact list, GPS location data, sound recordings, call logs, text messages and files stored on your phone.

Then the bad part kicks in.

If the person doesn’t pay on time – or even after the loan is repaid – the attackers threaten to divulge confidential information.

They scare victims by saying they will call friends and family from their contacts.

They can even threaten to send photos stolen from your phone.

“Quick loan programs are often full of predatory schemes like high interest rates and repayment schemes, but adding extortion into the equation increases the level of nastiness,” the firm warned.

“And with the financial instability that many people around the world are experiencing, it’s no surprise that this type of malware is growing in popularity.”

Experts say one variant is targeting people in India, while another is targeting people in Peru.

No matter the circumstances, never go to unknown and untrustworthy places to make money.

If you’re struggling financially, seek help from a charity like Citizens Advice.

Finally, just because you can download apps outside of the Google Play Store doesn’t mean you should.

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It increases your chances of stumbling across a dangerous app like the one in this case.

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Fry Electronics Team

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