New Android Banking Malware Attack Tricks Banks, Customers; Severity, Process, and Other Details

A new Android banking malware attack concerns cybersecurity experts because it can easily trick people into sending their personal information.

This new malicious campaign is specifically designed to victimize Android users, as well as their banks.

Dubbed as TOAD (telephone-oriented attack delivery), this new cyberattack can infect Android devices with the Copybara Android banking malware.

This security threat can steam usernames, passwords, and other online-banking information, especially those that hackers can use to bypass security questions.

New Android Banking Malware Attack Tricks Banks, Customers

According to ZDNet's latest report, the new TOAD campaign was first discovered by ThreatFabric cybersecurity experts.

They said that TOAD is now targeting different banks and customers.

"Our Threat Intelligence (TI) shows that telephone-oriented attack delivery (TOAD) tactics are becoming increasingly popular amongst fraudsters orchestrating Android banking malware campaigns," said involved cybersecurity researchers via their official blogpost.

They added that one of their investigations revealed that some Italian online-banking users are being targeted by hackers using the TOAD campaign.

Since this malicious cyberattack involves calling victims, ThreatFabric claimed that the world is now entering a new era of hybrid fraud attacks.

How Does TOAD Work?

Hackers using the TOAD campaign will start their attacks by sending phishing SMS messages. These texts contain links with forms that ask for online-banking details.

Once victims click the malicious links, they will be directed to fake websites impersonating their banks.

After that, they will be asked to enter their account number, PIN code, as well as telephone number. Then, they will receive a phone call from the scammers.

Callers will pretend that they will provide support to Android users. After that, they will ask their victims to install the software (Copybara malware) onto their Android devices.

In other stories, a new Android RatMilad spyware was previously discovered.

Also, in our previous report, iPhone users were advised to run system checks.

For more news updates about TOAD and other new security threats, keep your tabs open here at TechTimes.

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Written by Griffin Davis