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Beware of New Android Banking App Hack: Cybercriminals Targeting Users With Deceptive Updates

Attention Android smartphone users! Be careful! You could be the target of hackers. According to a report, hackers are using new techniques to deceive Android users. Users are unaware, and apps that install ‘Trojan horse’ are sneaked into their phones. It’s especially important for users who use banking-related apps on their mobiles to be vigilant. Let’s understand the whole scenario.

As per the hacker news report, the Computer Security Incident Response Team (CSIRT KNF) of the Polish Financial Supervision Authority has identified a new case. Cybercriminals are targeting people who use mobile banking services.

Cybercriminals are sending text messages to customers, instructing them to update their mobile banking apps. Along with the message, they include a link. Clicking on the link displays an update on the phone. The fraud occurs under the guise of an update, but it is not from the official store or any legitimate Android app store. The so-called update instructs users to download WebAPK.

By doing so, the smartphone’s browser security is disabled, and the app is installed on the users’ devices. After installing the fake banking app, cybercriminals prompt users to enter their banking details, and then they empty their bank accounts.

To avoid such downloads or malware, it is essential to be cautious:

  1. Never sideload apps (installing from unverified sources).
  2. Only install apps from the official Google Play Store or other verified app stores.
  3. If you are installing an APK file, verify its authenticity.
  4. Avoid clicking on any link related to app updates unless it’s from a trusted source.

Stay alert and follow these precautions to protect yourself from such threats.

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