The report identified 18 fraudulent apps that market themselves as offering quick and easy high-interest loans.
ESET classifies these bad actors as SpyLoan apps because they utilize spyware.
Google has reportedly removed the identified SpyLoan apps from the Google Play store since ESET alerted them.
Photo: rafapress (Shutterstock)
The fraudulent apps occasionally impersonate the names and branding of loan providers and financial institutions.
Google confirmed the report from ESET in an email to Gizmodo.
In extreme cases, users say the apps enforcers threatened the safety of their families.
Some of the SpyLoan apps ESET Research identified.Screenshot: ESET Research
… Do you really want to put your safety at risk?
… Are you willing to pay the consequences?
They bypass Google Plays app requirements by copying the app descriptions of other fintech apps.
A negative review of one of the SpyLoan apps.Screenshot: ESET Research
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