Downloading an app might not seem like a big deal, but in some cases it can start a domino effect that leads to harassment, threatening phone calls and more. This week, computer security software company McAfee revealed a list of 15 specific apps to avoid.
These potentially unwanted programs (PUPs) represent what McAfee called “a significant global increase of SpyLoan, also known as predatory loan apps, on Android,” and together they have been installed more than 8 million times. SpyLoan has been a operating regularly in the “mobile landscape” since 2020 but there has been a recent spike in activity, based on McAfee’s telemetry data.
“From the end of Q2 to the end of Q3 2024, the number of malicious SpyLoan apps and unique infected devices has increased by over 75%,” said a press release from the company.
Though the apps violate Google Play policies, they were still available to download through that app. McAfee alerted Google and some were removed, but others were simply updated. Additionally, McAfee said some of the apps were promoted through “deceptive advertising” on social media apps.
“Even after some apps have updated to reduce the permissions requirements and the harvesting of sensitive information they still pose a risk for the user’s privacy due to the potential unethical practices that can be conducted by the operators of these apps that are not licensed or registered with the authorities that regulate financial services in each jurisdiction where they operate,” said McAfee.
Each of the 15 predatory loan apps identified by McAfee share a common framework to encrypt and exfiltrate data from victim devices. From the device, the data goes to a server. Here’s the list and the countries where the apps originate from:
· Préstamo Seguro-Rápido, seguro, Mexico
· Préstamo Rápido-Credit Easy, Colombia
· Easy Baht - Quick Loan (translated name), Senegal
· RupiahKilat-Dana cair, Senegal
· Borrow happily – Loans (translated name), Thailand
· Happy Money - Quick Loan (translated name), Thailand
· KreditKu-Uang Online, Indonesia
· Dana Kilat-Pinjaman kecil, Indonesia
· Cash Loan-Vay tiền, Vietnam
· RapidFinance, Tanzania
· PrêtPourVous, Senegal
· Huayna Money – Préstamo Rápido, Peru
· IPréstamos: Rápido Crédito, Chile
· ConseguirSol-Dinero Rápido, Peru
· ÉcoPrêt Prêt En Ligne, Thailand
“They employ questionable tactics, such as deceptive marketing that highlights time-limited offers and countdowns, creating a false sense of urgency to pressure users into making hasty decisions,” said McAfee. “Ultimately, rather than providing genuine financial assistance, these apps can lead users into a cycle of debt and privacy violations.”
Upon downloading these apps, users might be asked to provide sensitive legal identification, documents and personal information as well as banking account information and employee information. When scammers have collected the data, they can use it to exploit or blackmail users, sell it to third parties or harass users. As for the loans, users can receive less than the promised loan amount while still being required to pay back the full amount, plus high fees.
This can all lead to stress, anxiety and issues that put a strain on mental health.
According to McAfee, these threats are impacting people around the world. This year, a report by the Judiciary of Peru said a fake loan app operation targeting people in Peru, Mexico and Chile was raided. Police revealed that more than 300 people were involved in the operation and that they defrauded at least 7,000 victims.
To avoid becoming a victim to one of these app scams, McAfee recommends the following: being cautious with permissions, double checking that the app you are using is licensed to operate in your country, reading user reviews, researching app developers before installing, installing security software, keeping devices updated, being cautious about sharing sensitive information and being skeptical about offers. Anyone who believes they have become a victim of an app scam should notify app stores and contact authorities.
For more information on avoiding scams, check out these articles from Audacy about the 12 scams to watch out for this holiday season and the three words in a text that might indicate you have been scammed.