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The Trojan targets the banking details of smartphone owners

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The dangerous “Grandoreiro” Trojan virus threatens smartphone users around the world. It has already targeted customer data from around 1,500 banks.

IMPORTANT – Criminals frequently use fraudulent methods to obtain money from unsuspecting people. Recently, both the Consumer Advice Center and health insurance companies warned of fraud at the expense of those in need of care. There is now a new scam method through which perpetrators attempt to access owners' banking details via their smartphones.

Online Fraud: The Trojan targets the banking details of smartphone owners

According to cybersecurity experts at IBM Security, the “Grandoreiro” banking Trojan is currently spreading rapidly. On your website Securityintelligence.com Experts warn of phishing attacks carried out by a Trojan, which attempts to obtain its victims' banking details through fake emails.

According to IBM Security, “Grandoreiro” targeted customer data of about 1,500 banks. According to the report, such fraud attempts and malware activities have already been recorded in more than 60 countries around the world, including Germany. The affected regions so far are Europe, Africa, North, Central and South America as well as the Indo-Pacific region, including Australia, Indonesia and the Philippines.

What is a Trojan horse?

The term “Troy” has its origins in the ancient Greek story of the treacherous Trojan Horse that led to the fall of the city of Troy. When it comes to your computer, a Trojan virus works in a similar way – it masquerades as supposedly harmless applications or tries to get you to download them. The term was first used in a 1974 US Air Force document that discussed hypothetical scenarios of how computers could be attacked. (Source: kaspersky.de)

Online Fraud: “Grandoreiro” follows certain patterns

Fraud attempts using the “Grandoreiro” Trojan generally follow a certain pattern:

  • Phishing emails are sent claiming to come from government agencies such as tax authorities, financial services and electricity authorities in Mexico, Argentina or South Africa.
  • Recipients are deceived by official logos in fake emails and are time-pressed by requests to take action.
  • Fraudulent emails contain links to supposed invoices, bank statements, or tax documents. Anyone who clicks on these links will fall into the trap.
  • Clicking on links in phishing emails triggers a ZIP file containing the “Grandoreiro” malware to be downloaded and then executed.

how Chip.de It was reported that the “Grandoreiro” banking Trojan has been causing headaches for authorities and banks for some time. In January 2024, there was a joint operation between Interpol, Caixa Bank, security company ESFT, and the Brazilian and Spanish authorities. Their goal was to stop “Grandoreiro,” where the Trojan has mainly attacked people and organizations in Spanish-speaking countries since 2017. It appears to be successful, as the damage from the malware has been estimated at around $120 million.

Online Fraud: “Grandoreiro” has not been permanently shut down

According to the report, five suspects were arrested in Brazil in this regard. However, the “Grandoreiro” Trojan has been able to develop further through technical modifications and has not been permanently stopped yet. Sparkasse also recently warned of fraud attempts and “unusual account movements.” (x)

Fraudulent email
Through phishing emails like this, the “Grandoreiro” Trojan attempts to obtain the recipient's banking details. © IBM Security

Netflix customers also currently have to fear new scams. However, if you look closely at the email, you can spot the fake.