
### New Loan Scam Trend Features Malicious App Downloads
Police have noticed a series of loan scams involving harmful app downloads. Between 1st July and 13th August 2023, nine victims have been tricked, resulting in overall losses of roughly $18,000.
Victims often come across ads for loans on platforms like Facebook or get unsolicited messages about loans through apps like WhatsApp. If they show interest, the scammers send a URL link as part of the application process. This link prompts victims to install an Android Package Kit (APK) file, supposedly needed for registration or communication purposes. An example of such an app downloaded by a victim can be seen in Annex A.
This app is actually malware, stealing the victim’s personal information and passing it to the scammers (see Annex B for the type of data collected).
The con artists entice victims with attractive interest rates and then demand various ‘fees’ for the loan. Victims who refuse or try to withdraw their application are threatened with their personal data. They’re pressured into paying ‘fees’, as the scammers threaten to leak compromising photos or harass their contacts. Fearing the consequences, victims end up transferring money to local bank accounts provided by the scammers.
Police urge people to be wary of downloading apps from third-party or suspicious websites as they might install malware on their devices, compromising personal information.
Some recommended preventive measures include:
– Appending anti-virus/anti-malware apps onto your device, regularly updating your device’s OS and applications.
– Confirming official sources for signals of a scam (for instance, visit [scamalert.sg](https://www.scamalert.sg) or call the Anti-Scam Helpline at 1800-722-6688).
– Sharing regarding scams with authorities, family, and friends. Quickly report any suspicious transactions to your bank.
If a suspect app has been downloaded or malware is suspected, recommended steps include:
– Switch phone to “flight mode.”
– Conduct an anti-virus scan on the phone.
– Check for unauthorized transactions on your accounts.
– If unauthorized transactions appear, report to the bank, the relevant authorities, and the police.
– If no malware is detected, continue using the phone. Consider a “factory reset” of your phone and changing important passwords for added safety.
To report such incidences or for any doubts, call the Police Hotline at 1800-255-0000 or submit it online at www.police.gov.sg/iwitness. For more information on scams refer to [scamalert.sg](https://www.scamalert.sg) or call the Anti-Scam Helpline at 1800-722-6688.
### Frequently Asked Questions
#### What is the new loan scam pattern?
Scammers lure victims into downloading a malicious app by advertising loans on social media platforms. The app downloads malware that steals the victim’s personal information. The information is then used to push victims into paying ‘fees’ by threatening to leak their data or harass their contacts.
#### What can I do if I’ve downloaded a suspicious app?
Switch your phone to “flight mode” and conduct an anti-virus scan. Check for unauthorized transactions on your accounts using a different device. If you find unauthorized transactions, report them to your bank, the relevant authorities, and the police. Also, consider doing a “factory reset” of your phone and changing important passwords for added safety.
#### How can I protect against such scams?
Avoid downloading apps from third-party or dubious websites. Regularly update your OS and apps and enable antivirus/anti-malware apps. Always check for scams with official sources and ignore any unsolicited loan ads on social media or messaging apps. Finally, spread awareness about such scams to family, friends, and authorities.