Mistakenly installing this Android malware can lock your phone and drain your bank account

this Android malware, known as the Fanta SDK, has evolved in capabilities but has kept its mode of operation the same.

This malware operates by changing the user's smartphone PIN, then locking the device, and by doing so, keeps the victim busy while it empty their bank account.

A user first receives an email with their bank's email address spoofed, and they're told that a new security update for their banking application was recently released and that they should update their app. Right now, the app only targets the users of Russian banks.

If the user has one of those apps installed on their phone, they'll likely follow the download link included in the email and download the app on their phone. It is recommended that users update the mobile banking app through the Google Play Store, and not via manual downloads.

After the app gets admin privileges, it will wait for the user to launch the mobile banking app of a targeted bank. At this point, the app will show a popup through which it phishes the victim's banking credentials and then redirects them to the legitimate app.

Read more...http://www.draynehub.com/en/mistakenly-insta…ain-bank-account/