Police Advisory On New Variant Of Malware Scams

Police have detected a new malware variant scam where unauthorised transactions are executed on victims’ online banking apps. Over 750 victims were infected in H1 2023 with losses over $10 million. Scammers trick victims into installing malware from fraudulent service ads on social media where buyers are directed to download an Android package file. Unbeknown to victims, their banking details are stolen. A factory reset is then initiated by the malware, only revealing unauthorised banking transactions after the app is reinstalled.