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Blog Other Blogs McAfee Labs SpyLoan: A Global Threat Exploiting Social
Engineering


SPYLOAN: A GLOBAL THREAT EXPLOITING SOCIAL ENGINEERING



McAfee Labs

Nov 25, 2024

16 MIN READ

Authored by: Fernando Ruiz

The McAfee mobile research team recently identified a significant global
increase of SpyLoan, also known as predatory loan apps, on Android. These PUP
(potentially unwanted programs) applications use social engineering tactics to
trick users into providing sensitive information and granting extra mobile app
permissions,  which can lead to extortion, harassment, and financial loss. 

During our investigation of this threat, we identified fifteen apps with a
combined total of over eight million installations.  This group of loan apps
share a common framework to encrypt and exfiltrate data from a victim’s device
to a command and control (C2) server using a similar HTTP endpoint
infrastructure. They operate localized in targeted territories, mainly in South
America, Southern Asia, and Africa, with some of them being promoted through
deceptive advertising on social media.  

McAfee is a member of the App Defense Alliance focused on protecting users by
preventing threats from reaching their devices and improving app quality across
the ecosystem. We reported the apps discovered to Google who have notified the
developers that their apps violate Google Play policies and fixes are needed to
come into compliance. Some apps were suspended from Google Play while others
were updated by the developers. 

McAfee Mobile Security detects all of these apps as Android/PUP.SpyLoan due to
our PUP policy since even after some apps have updated to reduce the permissions
requirements and the harvesting of sensitive information they still pose a risk
for the user’s privacy due to the potential unethical practices that can be
conducted by the operators of these apps that are not licensed or registered
with the authorities that regulate financial services in each jurisdiction where
they operate. 

 



Figure 1: Examples of SpyLoan apps recently distributed on Google Play

Since 2020, SpyLoan has become a consistent presence   in the mobile threat
landscape. However, our telemetry indicates a rapid surge in their activity
recently. From the end of Q2 to the end of Q3 2024, the number of malicious
SpyLoan apps and unique infected devices has increased by over 75%.   


UNDERSTANDING THE THREAT


WHAT ARE SPYLOAN APPS?

SpyLoan apps are intrusive financial applications that lure users with promises
of quick and flexible loans, often featuring low rates and minimal requirements.
While these apps may seem to offer genuine value, the reality is that these apps
primarily exist to collect as much personal information as possible, which they
then may exploit to harass and extort users into paying predatory interest
rates. They employ questionable tactics, such as deceptive marketing that
highlights time-limited offers and countdowns, creating a false sense of urgency
to pressure users into making hasty decisions. Ultimately, rather than providing
genuine financial assistance, these apps can lead users into a cycle of debt and
privacy violations. 

While the specific behavior may vary by country, these apps share common
characteristics and code at app and infrastructure level: 

 * Distribution via Official App Stores: Despite violating policies, these apps
   often slip through app store vetting processes and are available on platforms
   like Google Play, making them appear trustworthy. 
 * Deceptive Marketing: They use names, logos, and user interfaces that mimic
   reputable financial institutions to gain credibility. Often these loan apps
   are promoted by ads on social media networks 



Figure 2: Ad for a SpyLoan app

“High amount of loan” Add on Facebook for app “Presta Facil: Revision Rapida”
which translate to “Easy Loan: Fast Approval” detailing interest rates, amount,
period, etc for a loan in Colombian pesos. 

 * Similar user flow: After first execution a privacy policy is displayed with
   the details of what information will be collected, then a countdown timer
   creates the sense of urgency to apply to the loan offer and the user’s phone
   number with the country code of the targeted territory is required to
   continue, asking for a one-time-password (OTP) that is received by SMS to
   authenticate the user and validate that user has a phone number from the
   targeted country. 

SpyLoan apps are consistent with this onboarding process. Then navigation bar
and app actions are very similar with different graphics but have the same
features in their respective localized languages. 



Figure 3:  Example of privacy terms on two different SpyLoan apps, one targeting
Indonesia (left) named “KreditKu-Uang Online” and another targeting Mexico
(right) named “Préstamo Seguro-Rápido, Seguro”.

Both apps have in common a framework that shares the user interface, user’s flow
and encryption libraries with techniques for communication with C2
infrastructure, while the operators have different locations, language and
target countries.

 * Privacy agreements: These apps have similar but not equal privacy terms, in
   general they describe and justify the sensitive data to be collected as part
   of the user identification process and anti-fraud measures.
   * They require users to consent to collect excessive and exploitative data
     that a formal financial institution would not normally require, such as SMS
     message content, call logs and contact lists.
   * The contact information of the financial institution is from free service
     email domain like Gmail or Outlook, like a personal email address, not from
     a formal and legal financial institution.
   * The websites implementation of the privacy terms of these SpyLoans apps are
     built with the same web-framework, using JavaScript to dynamically load the
     content of the terms, this text is not available in the HTML files
     directly.

 * Excessive Permission Requests: Upon installation, they request permissions
   that are unnecessary for a loan app, such as access to contacts, SMS,
   storage, calendar, phone call records and even microphone or camera.

Common permissions on SpyLoan applications can be:

 * * permission.CAMERA
   * permission.READ_CALL_LOG
   * permission.READ_PHONE_STATE
   * permission.ACCESS_COARSE_LOCATION
   * permission.READ_SMS

Depending on the implementation and distribution method they can include more
sensitive permissions.

 * Enticing Offers: Promising quick loans with minimal requirements to attract
   users in urgent financial situations. A countdown might be displayed to
   increase the sense of urgency.



Figure 4: Three different apps, from different developers offering the same
initial countdown onboarding screen: Offering an “85% approval rate” in
different languages with a countdown.

Phone Validation via SMS OTP: To complete the registration a phone number with
the country code of the target country is required to validate the user’s phone
is on the territory, receiving an one time password (OTP) to proceed to the
registration via text message.

Data Collection: Users are prompted to provide sensitive legal identification
documents and personal information, banking accounts, employee information among
with device data that is exfiltrated from the victim’s device.


IMPACT ON USERS


FINANCIAL EXPLOITATION

 * Hidden Fees and High Interest Rates: Users receive less than the promised
   loan amount but are required to repay the full amount plus exorbitant fees
   within a short period.
 * Unauthorized Charges: Some apps initiate unauthorized transactions or charge
   hidden fees.


PRIVACY VIOLATIONS

 * Data Misuse: Personal information is exploited for blackmail or sold to third
   parties. This might include sextortion with victims’ pictures that can be
   exfiltrated or created with AI.
 * Harassment and Extortion: Users and their contacts receive threatening
   messages or calls including death threats.


EMOTIONAL AND PSYCHOLOGICAL DISTRESS

 * Stress and Anxiety: Aggressive tactics cause significant emotional harm.
 * Reputational Damage: Public shaming can affect personal and professional
   relationships.

Back to 2023 in Chile media reported the suicide of a victim of fake loans after
the harassment and threats to her friends and family and to her integrity.


DATA EXFILTRATION ANALYSIS

The group of SpyLoan applications reported in this blog belongs to the family
identified by McAfee as Android/SpyLoan.DE that transmits the collected
information encrypted to the command and control (C2) using AES (Advanced
encryption standard) with 128bits keys then base64 encoding and optionally adds
a hardcoded padding over https.

Encryption key and initialization vector (IV) are hardcoded into the obfuscated
application code.



Figure 5: Encryption key and IV hardcoded in SpyLoan variant

SpyLoan uses this same encryption routine to hide sensitive strings on
resources.xml that leads to data exfiltration, for example:

 * String skadnjskdf in resources.xml:
   * <string name=”skadnjskdf”>501tm8gR24S8F8BpRDkvnw==</string>
 * The AES decrypted value using the same encryption routine implemented for
   data exfiltration:
   * <string name=”skadnjskdf”>content://sms/</string>

This string is used to construct a content URI that allows access to SMS
Messages that it’s implemented to extract fields like, date, address
(sender/recipient), message body, status, etc., and formats into JSON that then
will be encrypted again to be sent to the C2.



Figure 6: Code section that exfiltrates all SMS messages from Victim’s device

Exfiltrated data is posted into the C2 via HTTP post inside an encrypted JSON
object. The URLs of the endpoints used to collect sensitive data shares the URL
structure between different SpyLoan applications. They use the same URLs scheme
that can be detected by this regex:

^https:\/\/[a-z0-9.-]+\/[a-z]{2,}-gp\/[a-z0-9]+\/[a-z0-9]+$

Some examples of C2 URLs that match this scheme:

 * hxxps://su.mykreditandfear.com/her-gp/kgycinc/wjt
 * hxxps://hx.nihxdzzs.com/dz-gp/cfmwzu/uyeo
 * hxxps://prep.preprestamoshol.com/seg-gp/pdorj/tisqwfnkr
 * hxxps://tlon.pegetloanability.com/anerf-gp/jwnmk/dgehtkzh

Using the same technique and obfuscation methods SpyLoan samples hide in his
code the ability to exfiltrate larges amount of sensitive data from their
victims, including:

 * Call Logs: Collects call log data from the device if permissions are granted
   * Number: The phone number of the caller
   * Type: Type of call (incoming, outgoing, missed)
   * Duration: The duration of the call
   * Date: The timestamp of the call
   * Name: The name of the contact (if available)
 * Files in download directory with metadata: file name, extension, file size,
   last modified timestamp
 * All accounts on the device, emails and social media accounts.
 * Information about all apps installed

Other miscellaneous information collected:

 * Device and Network information:
   * Subscriber ID
   * DNS Information
   * Device ID (IMEI)
   * MAC address
   * Country code
   * Network Operator Name
   * Language
   * Network Type (WIfi, 4G, 3G, etc)
   * Phone number
   * Locale information (country code, display language)
   * Time Zone
   * Development Settings (enable or disable)
   * Phone Type (GSM, CDMA)
   * Elapsed Real-Time (The elapsed time since device was booted)
   * Proxy Configuration
 * SIM Information
   * SIM country ISO Code
   * SIM Serial Number (ICCID)
 * Location:
   * Permission: It checks for ACCESS_COARSER_LOCATION
   * Location provider: Check if GPS or network location are available
   * Last known location: Latitude or longitude
   * Geocoding information (converts latitude and longitude into a structured
     address):
     * Country name
     * Admirative area
     * City
     * Street
     * Address Line
   * Device configuration
     * Number of images: It counts the number of images files in external
       storage
     * Test Mode: reports if the device is in test mode
     * Keyboard Configuration
     * Current time
     * Enabled accessibility services flag
   * OS Settings:
     * Android version details (version, sdk level, fingerprint, id, display
       build)
     * Hardware information (device name, product name, device model, hardware
       details, device brand, board info, device serial number)
     * System configuration (bootloader version, build host, build user, CPU
       info)
     * Network (radio version, system type, build tags)
   * Storage Information:
     * External storage path, size,
     * Internal storage: total size, available size.
     * Memory information: total RAM, available RAM
   * Sensor data

Data from sensors such as accelerometers, gyroscopes, magnetometers if available
on the affected device. This information includes:

 * Sensor type, sensor name, version, vendor, maximum range, minimum delay,
   power consumption, resolution.

Sensor data can be used for device fingerprinting and user’s behavioral
monitoring.

 * Battery Information:
   * Battery level
   * Battery status: Indicates if the devices is plugged
   * Other battery metadata: health, if present, voltage, battery technology,
     type, etc.
 * Audio settings (maximum and current volume levels)


VICTIM EXPERIENCES

Users have reported alarming experiences, such as:

 * Receiving threatening calls and death threats for delayed payments.
 * Having personal photos and IDs misused to intimidate them.
 * The app accesses their contacts to send harassing messages to friends and
   family.

Typical comments on fake loan apps:

For example, “Préstamo Seguro-Rápido, Seguro” had many fake positive reviews on
Google Play while a few consistent users reviews that alleged abuse of the
collected data, extorsion and harassment.

 



Figure 7: User reviews in Spanish

 

October 18, 2024



I do not recommend this app. They start calling and threatening you with edited
photos and posting them on social media, even sending them to your contacts, a
day before. Even when it’s not the due date. Not recommended at all! Pure fraud
and extortion.

September 25, 2024



Horrible app, they don’t show you how much interest they will charge, which is a
lot, and before the payment date arrives, they start threatening your contacts
and even send you personal messages with threats and foul language, threatening
to extort your family.

Meanwhile other apps receive similar negative comments:



Figure 8: Comments on SpyLoan apps


GLOBAL IMPACT OF SPYLOANS APPS


WORLDWIDE ISSUE WITH LOCAL VARIATIONS



Figure 9: Global prevalence of SpyLoan apps

These threats are not confined to a single region; they’ve been reported
globally with localized adaptations. Predatory loan apps activities have been
identified worldwide not limited to the variants technically described in this
post, the following incidents can provide a wider context of the impact of this
threat:

 * Asia:
   * India: Users faced harassment and data leaks from apps misusing granted
     permissions. Authorities have taken action against such apps
   * Southeast Asia: Countries like Thailand, Indonesia, Vietnam and Philippines
     have reported significant issues with these apps exploiting users’
     financial vulnerabilities.
     * Bank of Thailand advise center
   * Africa:
     * Nigeria, Kenya, Uganda: Similar apps have led to financial fraud and
       unauthorized transactions, targeting a large unbanked population.
   * Latin America:
     * Mexico, Colombia, Chile and Peru: Users have reported threats and
       harassment, with apps misusing personal data for extortion.

Ranking of top 10 countries with highest prevalence of Fake Loans apps according
to McAfee telemetry Q3 2024:

 * India
 * Mexico
 * Philippines
 * Indonesia
 * Thailand
 * Kenya
 * Colombia
 * Vietnam
 * Chile
 * Nigeria


LAW ENFORCEMENT ACTIONS

According to a report by the Judiciary of Peru, authorities conducted a major
raid on a call center engaged in extortion and the operation of fake loan apps
targeting individuals in Peru, Mexico, and Chile. 

The police reported that over 300 individuals were linked to this criminal
operation, which had defrauded at least 7,000 victims across multiple
countries. 

The call center employees were trained specifically to extort victims. Using
information collected from the SpyLoan apps, they threatened users to extract as
much money as possible by imposing inflated interest rates and additional fees. 

Meanwhile in Chile, the commission for commission for the financial market (CMF)
highlights in their website tens of fraudulent credit applications that has been
distributed on Google Play, also the national consumer service (SERNAC) reports
more cases. 

In May 2024, the Chilean police has detained over 25 people linked to one Fake
Loans operations that scammed over 2,000 victims according to La Tercera. 

Despite the efforts the activity of these malware applications continues and
increases in South America and the rest of the world. 


CONCLUSION

The threat of Android apps like SpyLoan is a global issue that exploits users’
trust and financial desperation. These apps leverage social engineering to
bypass technical security measures and inflict significant harm on individuals.
Despite law enforcement actions to capture multiple groups linked to the
operation of SpyLoan apps, new operators and cybercriminals continue to exploit
these fraud activities, especially in South America, Southeast Asia and Africa.

SpyLoan apps operate with similar code at app and C2 level across different
continents this suggest the presence of a common developer or a shared framework
that is being sold to cybercriminals. This modular approach allows these
developers to quickly distribute malicious apps tailored to various markets,
exploiting local vulnerabilities while maintaining a consistent model for
scamming users.

By reusing code and tactics, they can efficiently target different countries,
often evading detection by authorities and creating a widespread problem that is
difficult to combat. This networked approach not only increases the scale of the
threat but also complicates efforts to trace and shut down these operations, as
they can easily adapt and relocate their operations to new regions.

By understanding how these malicious apps operate and taking proactive steps to
protect ourselves, we can mitigate the risks and help others do the same.


HOW TO PROTECT YOURSELF: TIPS AND RECOMMENDATIONS


BE CAUTIOUS WITH PERMISSIONS

 * Review Permissions Carefully: Be wary of apps requesting permissions that
   seem unnecessary for their function.
 * Limit Permissions: Deny permissions that are not essential.


VERIFY APP LEGITIMACY

 * License and Registration: Ensure the institution is registered and licensed
   to operate in your country. Verify with your financial regulator’s authority
   or consumer protection agency.
 * Read User Reviews: Look for patterns of complaints about fraud or data
   misuse, pay special attention in apps with polarized reviews that might
   contain fake positive reviews.
 * Research the Developer: Look up the developer’s name, website, and reviews.
   Even if the app contains privacy policy which is mandatory on Google Play
   this might not be honored by scammers.


USE SECURITY MEASURES

 * Install Security Software: Use reputable antivirus and anti-malware apps.
 * Keep Your Device Updated: Regular updates can protect against
   vulnerabilities.


PRACTICE SAFE ONLINE BEHAVIOR

 * Don’t Share Sensitive Information: Provide personal data only to trusted and
   verified entities.
 * Be Skeptical of Unrealistic Offers: If it sounds too good to be true, it
   probably is.


REPORT SUSPICIOUS ACTIVITY

 * Notify App Stores: Report fraudulent apps to help protect others.
 * Contact Authorities: If you’re a victim, report the incident to local law
   enforcement or cybercrime units.


IOC

Package App Name Downloads Country SHA256 com.prestamoseguro.ss Préstamo
Seguro-Rápido, seguro 1M Mexico
f71dc766744573efb37f04851229eb47fc89aa7ae9124c77b94f1aa1ccc53b6c
com.voscp.rapido Préstamo Rápido-Credit Easy 1M Colombia
22f4650621fea7a4deab4742626139d2e6840a9956285691b2942b69fef0ab22
com.uang.belanja ได้บาทง่ายๆ-สินเชื่อด่วน 1M Senegal
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9d51a5c0f9abea8e9777e9d8615bcab2f9794b60bf233e3087615638ceaa140e
com.gotoloan.cash ยืมอย่างมีความสุข – เงินกู้ 1M Thailand
852a1ae6193899f495d047904f4bdb56cc48836db4d57056b02352ae0a63be12
com.hm.happy.money เงินมีความสุข – สินเชื่อด่วน 1M Thailand
43977fce320b39a02dc4e323243ea1b3bc532627b5bc8e15906aaff5e94815ee
com.kreditku.kuindo KreditKu-Uang Online 500K Indonesia
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com.winner.rupiahcl Dana Kilat-Pinjaman kecil 500K Indonesia
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com.vay.cashloan.cash Cash Loan-Vay tiền 100K Vietnam
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com.restrict.bright.cowboy RapidFinance 100K Tanzania
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com.credit.orange.enespeces.mtn.ouest.wave.argent.tresor.payer.pret PrêtPourVous
100K Senegal 453e23e68a9467f861d03cbace1f3d19909340dac8fabf4f70bc377f0155834e
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Chile 45697ddfa2b9f7ccfbd40e971636f9ef6eeb5d964e6802476e8b3561596aa6c2
com.conseguir.sol.pe ConseguirSol-Dinero Rápido 100K Peru
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com.pret.loan.ligne.personnel ÉcoPrêt Prêt En Ligne 50K Thailand
27743ab447cb3731d816afb7a4cecc73023efc4cd4a65b6faf3aadfd59f1768e

 

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MORE FROM MCAFEE LABS

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Authored by Lakshya Mathur, Vallabh Chole & Abhishek Karnik Recently we
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FRAUD

Authored by Dexter Shin Many government agencies provide their services online
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May 31, 2024   |   7 MIN READ

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Authored by Vignesh Dhatchanamoorthy, Rachana S Instagram, with its vast user
base and dynamic platform, has become...

May 14, 2024   |   6 MIN READ

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Authored by Yashvi Shah and Preksha Saxena AsyncRAT, also known as “Asynchronous
Remote Access Trojan,” represents a...

May 08, 2024   |   10 MIN READ

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