You should never trust an app by default, as evidenced by a list of 15 applications which McAfee has identified as “predatory loan apps” on the Google Play Store. There are efforts in motion to remove them from the platform, but that doesn’t make them any less dangerous–especially if you’ve already downloaded them. Today, we’re highlighting the issues with SpyLoan apps.
Why You Have to Worry About Malicious Apps on the Play Store
SpyLoan apps work like many other types of malware, taking up valuable storage space and stealing data from the installed device.
They’re not loud and bombastic like some other threats can be. Rather, they operate much like your standard phishing scheme. SpyLoan apps function like a financial app, allowing the user access to loans, but at a terrible cost.
The price: a breach of privacy and, of course, debt.
While these behaviors are malicious themselves, the SpyLoan apps can sneak past the Google Play Store’s checks through social engineering rather than coded threats. Since they bypass this check, SpyLoan apps will appear on the platform and take advantage of people who trust the store’s security. More malicious apps have leveraged this loophole, with the number growing since 2023.
So what are you supposed to do to avoid these malicious apps?
It’s Simple: Only Install Trusted Apps
Even sure platforms cannot be trusted, so you have to take matters into your own hands.
We recommend that you remain highly selective of the apps you download on your device. You should never download apps from unknown developers or sources, and you should prioritize those from well-known-and-reputable companies and brands.
Detect Malware on Your Mobile Devices with These Warning Signs
These symptoms could potentially indicate a mobile malware infection:
On the Device Itself:
- Slower operation
- Virus alerts
- Missing storage space
- Inoperable antivirus software
- An inoperable device
In the Device’s Browser:
- Invasive pop-up ads and tabs
- Your browser redirects to other pages or ads
- Your homepage or default search change without your permission
- Virus alerts
- Unwanted installs
Be Wary of Mobile Apps
It doesn’t take rocket science to develop an app and get it on the Play Store. You should remain cautious of downloading just any old app to your device, as they have historically been a vector of attack for hackers. We recommend that you practice caution to keep yourself (or your employees) from downloading apps that could cause your organization harm.