Fake lending apps have been downloaded 12 million times!

ESET Research announced in a report that it has identified 18 fake applications that have introduced themselves as quick loan applications. In reality, these apps steal victims’ personal and financial information to extort money from them, and sometimes threaten their families and steal their money.

According to Aetna from Isna, these applications have been classified by the ESET security company as Spylon applications because they use spyware. Google has repeatedly removed Spylon apps from its Play Store since ESET’s warning. Research shows that Spylon applications have grown by 90% in the first half of 2023 and generally target users outside of America and Europe. These fraudulent applications usually fake the name and brand of financial institutions and loan providers.

In an email, Google confirmed ESET’s report and announced: We take security claims about applications seriously, and if we find an application that violates our policies, we take the necessary action.

Once Spylone apps are installed, attackers harass victims, forcing them to make payments and extorting money even if they have not applied for or been approved for a loan. In extreme cases, users say that the operators of these ostensibly lending apps have threatened the safety of their families.

According to the Gizmodo report, users from countries such as Mexico, Indonesia, Thailand, Vietnam, India, Pakistan, Colombia and Peru have been seen among the victims of Spylon applications.