McAfee has uncovered 15 malicious SpyLoan Android apps on Google Play that have been downloaded over 8 million times, primarily affecting users in South America, Southeast Asia, and Africa. These apps posed as financial tools offering quick loans under deceptive terms, but instead stole sensitive user data, including contacts, SMS, and location, to extort victims.
Once loans are issued, operators demand high-interest payments and use stolen information to harass borrowers and their families. McAfee notes these apps misuse permissions to exfiltrate extensive data, furthering their extortion schemes.
Despite being removed from Google Play following McAfee's findings, the apps’ presence highlights gaps in Google's app review system, as similar cleanup actions in late 2023 failed to curb their resurgence. Popular apps like Préstamo Seguro-Rápido accounted for millions of downloads.
Users are advised to scrutinize app reviews, verify developer reputations, limit permissions, and ensure Google Play Protect is enabled to guard against such threats.
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