A warning about a recent malware infection has been issued by the Association of Banks in Singapore (ABS). The reason for this was because a lot of mobile users in Singapore reported losses of up to “several thousands of dollars” after clicking on a suspicious link that prompted them to “update” the Android software of their devices.
The malware is disguised as a software update notification and appears in websites that are already infected by the malware itself. It prompts users to update features such as the battery management module. By tapping the embedded link or button, users are asked to enter their credit card details before moving on to the “update.”
As soon as the false update starts running, an Android logo will show up on the screen, accompanied with the words that mentions the progress of the update. At this point, cyber criminals will “take over” those infected smartphones and use the credit card details given to them to make fraudulent online purchases.
According to ABS, should users find that their devices are infected, they are advised to avoid using those devices to perform bank transactions. Additionally, they are required to install an anti-malware app, which normally detects and remove any form of malware.
As for dos and don’ts, users should refrain from downloading dubious apps. Users should also avoid using public WiFi when transacting with sensitive information. This is due to cyber criminals having the chance to use that same WiFi in order to snoop information.
Even though this case only occurred in Singapore, it is important to note that such scams can happen anywhere on the Internet, no matter what region a user resides in. Malaysia is no exception, so Internet users in Malaysia should be very wary of suspicious links or notifications, no matter what device they are using.
To find out more information on online scams in Singapore, you can refer to this useful website here.
(Source: ABS via HardwareZone)
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