Malahide Credit Union have been advised of an emerging fraud trend. We kindly request that you read the below carefully to help prevent fraud scams affecting our wider community.
A typical scenario –
- Fraudsters create apps on the Google Play store, which contains certain malware, frequently PDF readers or File Manager software.
- Users download the app from the Google Play store.
- The app will look for and be granted permissions during the download.
- The malware will frequently give the fraudster remote access control over the phone or access to mobile bank log in details.
- When the user logs into their mobile app, a screen cover appears and the log in details are captured via different methods.
- The fraudster takes control of the phone and logs into the banking app and commence making payments to mule accounts.
- Any one time passcodes (OTPs) that are pushed out to the mobile phone to authenticate payments are visible to the fraudster who has taken over control of the phone and the payment is executed.