A team of researchers from several security firms has uncovered two new malware campaigns targeting Google Play Store users, of which one spreads a new version of BankBot, a persistent family of banking Trojan that imitates real banking applications in efforts to steal users217; login details.
BankBot has been designed to display fake overlays on legitimate bank apps from major banks around the world, including Citibank, WellsFargo, Chase, and DiBa, to steal sensitive information, including logins and credit card details.
With its primary purpose of displaying fake overlays, BankBot has the ability to perform a broad range of tasks, such as sending and intercepting SMS messages, making calls, tracking infected devices, and stealing contacts.
Google removed at least four previous versions of this banking trojan from its official Android app store platform earlier this year, but BankBot apps always made their ways to Play Store, targeting victims from major banks around the world.
First spotted by the researchers on 13 October, the malicious BankBot apps uses special techniques to circumvent Google’s automated detection checks, such as starting malicious activities 2 hours after the user gave device admin rights to the app and publishing the apps under different developer names.
After tricking victims into downloading them, the malicious apps check for the applications that are installed on the infected device against a hard-coded, list of 160 mobile apps.
According to the researchers, this list includes apps from Wells Fargo and Chase in the U.S., Credit Agricole in France, Santander in Spain, Commerzbank in Germany and many other financial institutions from around the world.
If it finds one or more apps on the infected smartphone, the malware downloads and installs the BankBot APK from its command-and-control server on the device, and tries to trick the victim into giving it administrator rights by pretending to be a Play Store or system update using a similar icon and package name.
Once it gets the admin privileges, the BankBot app displays overlay on the top of legitimate apps whenever victims launch one of the apps from the malware’s list and steal whatever banking info the victim’s types on it.
The Avast Threat Labs has also provided a video demonstration while testing this mechanism with the app of the local Czech Airbank. You can see how the app creates an overlay within milliseconds and tricks the user into giving out their bank details to criminals.
Since many banks use two-factor-authentication methods for secure transactions, BankBot includes functionality that allows it to intercept text messages, allowing criminals behind BankBot to steal mobile transaction number (mTAN) sent to the customer’s phone and transfer money to their accounts.