You no longer have to go to a bank to make a payment, thanks to fintech apps like Venmo and PayPal. Seemingly inspired by these apps, the internet is now filled with dangerous SpyLoan apps that pretend to be there to loan you money but have ulterior motives.
Cybersecurity company ESET’s researchers have discovered that such loan apps are on the rise. These apps target vulnerable people in Southeast Asia, Africa, and Latin America in need of urgent money. Often, these victims can’t access established financial assistance channels.
