Android Users Warned After Apps Steal Bank Information

Android owners are being warned after a study found that nearly 100 “malicious apps” are stealing users’ bank account information.

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A recent report from Zscaler, a cloud security company, said more than 90 of the malicious apps were in the Google Play store, with Android users installing them on their devices more than 5.5 million times.

“User security is a top priority for Google Play,” a Google spokesperson previously told media company Nexstar, adding that all of the apps that were identified as malicious had been taken off the platform.

Android users were particularly warned about Anatsa malware, also referred to as TeaBot. This malware can quickly obtain your banking information and use it to drain your accounts of money.

TeaBot was frequently discovered in downloadable apps that let you read PDFs or QR codes. Unbeknownst to Android users, they would invite malware that then allowed scammers to steal your money.

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“Androids may be targeted for scammers more than iPhones primarily because it is easier to download apps for Android phones from sources other than the Google Play Store, which makes it easier for scammers to avoid scrutiny,” scam expert Steve Weisman, a lawyer and professor at Bentley University, told Newsweek.

Users might be unaware of the threat until long afterward because the apps appear legitimate to the untrained eye.

Two of the most popular malicious apps were PDF Reader & File Manager and QR Reader & File Manager. Both had over 70,000 installations at the time of the report.

“This campaign impersonated PDF reader and QR code reader applications, as is often the case, to attract a large number of installations,” Zscaler said. “The high number of installations further aids in deceiving victims into believing that these applications are genuine.”

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At 39 percent of the malicious apps, tool apps were most likely to hide this type of malware. Personalization, photography, productivity and health and fitness apps were also top contenders.

Experts recommend several strategies to help protect yourself from the apps and secret malware. For one, the download number and reviews can indicate how trustworthy an app is to download.

There’s also a tool called Google Play Protect, which will automatically remove or disable apps known to contain malware, according to Google.

“The hard truth is that no one is immune,” Michael Ryan, a finance expert who runs MichaelRyanMoney.com, told Newsweek. “Whether it’s phishing scams, skimmers at gas pumps or data breaches exposing your info, the bad guys are working overtime to get those precious 16 digits. I’ve seen clients devastated, not just by the money lost but the feeling of being violated.”

Ryan said all consumers need to be vigilant and should check their bank statements regularly to make sure they haven’t had their information stolen. You can also set up alerts about any large payments made so you know immediately if a scammer got your financial information and, hopefully, can get your money back.

“The longer a thief has access, the more damage they can do,” Ryan said. “Contact your bank ASAP, put a freeze on accounts and monitor your credit report closely.”

He continued: “A few simple habits are much easier than cleaning up from a six-figure fraud case. Staying ahead of the con artists is an ongoing battle but one you can’t afford to ignore in today’s digital world. Your financial security has to be the top priority.”