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Singapore

Police warn of new loan scam variant involving malicious Android app

Police warn of new loan scam variant involving malicious Android app

Screenshots of the malicious app provided by the police. (Images: Singapore Police Force)

SINGAPORE: The police on Tuesday (Aug 15) warned members of the public about a new loan scam variant that involves a malicious Android mobile application.

At least nine people fell victim to the scam between Jul 1 and Aug 13, with their losses amounting to about S$18,000 (US$13,300), the Singapore Police Force (SPF) said in a news release.

"In these cases, victims would either chance upon advertisements offering loans on online platforms such as Facebook or receive unsolicited text messages through messaging applications, such as WhatsApp," the police said.

"The scammer will send victims a URL link if they express interest in such loan advertisements."

As part of the loan application, the URL link will require victims to download an Android package kit (APK) file – an app created for the Android operating system – purportedly for registration or communication.

The app is malware that collects and sends personal data from victims' phones to scammers.

"The scammers would first entice victims into taking up loans with attractive interest rates but subsequently require loan applicants to pay various 'fees' to secure the loans," SPF said.

If victims refused to pay the fees or tried to cancel their loan application, the scammers would use the victim's personal data to extort victims into paying the fees.

For example, the criminals will threaten to expose the victims' compromising photographs or harass people in their contact list, said the police.

"Having been put in fear by the scammers, victims would transfer money to local bank accounts provided by the scammers," they added.

The malware is able to extract information such as victims' locations, one-time passwords and contact lists, as well as files stored on their devices.

The police reminded members of the public that it is dangerous to download apps from third-party or dubious sites as this may lead to malware being installed on their mobile devices and compromise their personal information.

They advised people to take the following precautionary measures to avoid falling victim to such scams:

  • Download antivirus or anti-malware apps available on the official Play Store or App Store
  • Update devices' operating systems and applications regularly to be protected by the latest security patches
  • Disable "install unknown app" or "unknown sources" in phone settings
  • Do not grant permission to persistent pop-ups that request access to the device's hardware or data
  • Check for scam signs with official sources such as www.scamalert.sg or by calling the Anti-Scam Helpline on 1800-722-6688
  • Ignore online loan advertisements and do not reply to unsolicited loan offers. Legitimate moneylending companies are not allowed to solicit loan applicants over the internet
  • When asked to download an unknown app, check the developer information on the app listing as well as the number of downloads and user reviews to ensure that it is a reputable and legitimate application
  • Tell the authorities, family and friends about such scams
  • Report the phone numbers of scammers to WhatsApp to initiate in-app blocking and report any fraudulent transactions to the bank immediately

If people have already downloaded the malicious app or suspect that their phone might be infected with malware, the police advised them to take the following measures:

  • Turn the phone to flight mode
  • Run an antivirus scan on the phone
  • Check their bank account, Singpass account and Central Provident Fund account for any unauthorised transactions and report such transactions to their bank, relevant authorities and the police

After completing these steps, people can use their phones normally if they believe the phones have not been infected with malware.

"As a further precaution, you may consider doing a factory reset of your phone and changing important passwords," the police added.

Source: CNA/kg(mi)

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