Hackers pay a $5000 monthly fee to gain fraudulent access to banking apps

A research group from ESET has discovered that cyber-crooks are paying a monthly fee of $5000 to gain fraudulent access to 467 android apps to steal banking-related details. Information is out that the campaign has been running for quite some time and is aiming to siphon cryptocurrencies along with fiat.

Dubbed an ERMAC banking Trojan, the malware is seen impersonating android users in Poland and has now spread slowly to New Zealand.

In parallel, Cyble researchers who conducted research on the same claim that the bad guys are paying a monthly rent ranging between $5000 to $21,000 for targeting Android users, and on seeing the craze, the developers are now about to present a new version of ERMAC that has the potential to spy on the device without being recognized by detection servers owned by noted anti-malware solution providers.

Meanwhile, BUG Hunters working for Microsoft 365 Defender Research Team have documented evidence that android system apps are running with high severity vulnerabilities that allow hackers to install backdoors on Android devices.

Details provided to our Cybersecurity Insiders show evidence that the issue is found in the software provided to mobile carriers by Israel-based MCE Systems and a fix is already available that has to be set in the mobile framework by the network admins.

The Redmond Giant also added in its security revelation that Google Play did not detect such vulnerabilities in apps till March this year. However, it started to red flag such objects in April this year, thus defending its Android users from being infected by malware, trojans, and mobile ransomware.

 

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Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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