Hackers Deploying Virtual Android Phones To Bypass Bank Security, Empty Users’ Accounts: Cybersecurity Researchers

Cybercriminals are now using virtual phones to fool the anti-fraud protections of banks and drain customers’ accounts.

Citing the cybersecurity firm Group-IB, Malwarebytes researcher Pieter Arntz says criminals are renting cheap internet-based Android smartphones and using them to bypass banks’ security checks.

“The start of an attack is still social engineering. Criminals try to trick users into sharing one-time passwords (OTPs), approve a login or make a transfer ‘to a safe account.’

Behind the scenes, the criminal logs into a cloud phone instance that already looks like the victim’s device to their bank, thanks to matching or plausible fingerprints and pre-warmed behavior. Once the criminals are in, they carry out authorized push payment (APP) transfers (often to money-mule accounts), that the bank’s systems may treat as low-risk because nothing about the device seems obviously wrong.

At that point the criminals can start emptying your account or sell the virtual