This report explores a fake financial management app on the Google Play Store named Finance Simplified, which has been downloaded over 100,000 times. The app reportedly downloads an additional fraudulent loan application targeting Indian users. Once installed, users attempting to secure loans are subjected to cyber blackmail and bullying.

The malicious app gains unauthorized access to sensitive user data, including Clipboard content, Files, SMS, Contacts, Camera, and more. The CYFIRMA research team’s investigation reveals that multiple fraudulent loan apps are hosted on a single IP address but operate through different ports. These scam apps are being aggressively promoted across various social media platforms.

Link to the Research Report: https://www.cyfirma.com/research/spylend-the-android-app-available-on-google-play-store-enabling-financial-cyber-crime-extortion/

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