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Android Banking Malware Spreads Using a Bogus Google Play Store Website

The trojan poses as Itaú Unibanco's official banking app and uses the same icon as the legitimate app.

 

An Android banking trojan aimed at Itaú Unibanco has used an unusual technique to spread to devices, the actors created a page that looks remarkably similar to Android's official Google Play app store in order to deceive visitors into thinking they are installing the software from a reliable service. The Trojan poses as Itaú Unibanco's official banking app and uses the same icon as the legitimate app. 

Banco Itaú Unibanco S.A. is a Brazilian financial services firm based in São Paulo. Founded in 2008 by the merging of Banco Itaú and Unibanco, Itaú Unibanco is the largest bank in Brazil, as well as the largest in Latin America and the Southern Hemisphere, and the world's 71st largest bank. It is also one of the world's twenty most valuable banks. It has approximately 33,000 service sites worldwide, 3,527 of which are in Brazil, as well as around 28,000 ATMs and 55 million customers. 

When the user clicks on the "Install" button, they are prompted to download the APK, which is the first indication of fraud. Google Play Store apps are always installed through the store interface, never requiring the user to manually download and install programmes. Cyble researchers examined the malware and discovered that when it is executed, it attempts to launch the genuine Itaú app from the Google Play Store. If that is successful, it will utilize the actual app to carry out fraudulent transactions by modifying the user's input fields.

During installation, the software does not request any unsafe permissions, preventing suspicious or risky detection from AV tools. Instead, it intends to use the Accessibility Service, which is all that mobile malware requires to overcome all security on Android systems. According to a recent research by Security Research Labs, "we are currently dealing with an Android malware Accessibility abuse epidemic, and Google has failed to patch the targeted flaw." As a result, only the user has the ability to detect indicators of abuse and stop the infection before it has a chance to cause harm to the device. 

According to the researchers, if you want to enjoy the ease of mobile e-banking, download the app from the bank's official website or the Google Play Store. Furthermore, apply app updates as soon as they become available, and utilize an AV tool from a reliable vendor. Use a strong password and enable multi-factor authentication on the app to ensure optimal account security.
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Android Banking Malware

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Multi-factor authentication