Cybercriminals are now using virtual phones to fool bank fraud protection and compromise customer accounts.
Referring to the cybersecurity Group-IB, Malwarebytes researcher Pieter Arntz he says criminals are renting cheap Android smartphones online and using them to bypass bank security checks.
Criminals trick users into sharing one-time passwords (OTPs), agreeing to log in or sending ‘to a secure account.’
Behind the scenes, the criminal gets into the cloud phone that looks like the victim’s tool to their bank, thanks to the comparison or the sound of the fingerprints and the behavior that was previously burned. When hackers get in, they run authorized payment systems (APP) (often to mule accounts), which banks may see as low risk because nothing about the device appears to be wrong.
At that time criminals can start to drain your account or sell phones belonging to other criminals. ”
Arntz says cybercriminals are renting cloud phones from platforms that offer device rentals for $0.10-$0.50 an hour, making the technology for fraud more widely available.
To stay safe from cloud phone scams, Group-IB and Malwarebytes encourage people not to share one-time passwords (OTPs), accept unsuspecting logins, or transfer to a “secure account.”
These are social engineering techniques that infiltrate criminals.
He said users should double-check what is being asked of the bank by contacting the bank directly through an authorized app or phone number, turning on transaction notifications and checking accounts regularly to detect and suspend anything suspicious immediately.
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