Digital banking can be seen as a very useful financial service, especially because it allows people to buy goods and make various types of payments without the need for cash.
However, this dependence on digital financial services makes users victims of hackers who want to steal users' money. Recently, it was reported that the "Godfather" malware is being used to steal banking service login details of Android device users.
Android devices are seen to be the main attack vector of this malware because there are still many users of these devices who download applications from outside the Google Play Store and this allows the malware contained in these applications to be installed easily.
Even worse, there are also fake apps that look like real apps on the Play Store, and in one instance, a music app in Turkey was copied and uploaded to the Google Play Store and has been downloaded more than 10 million times in that country.
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What this Godfather malware will do is to request "permission" from the user to access the Accessibility Service function which will then give the device functional access to this software without requiring any user input.
This includes access to sending and receiving SMS, screenshots, making calls, writing data to built-in storage and reading device status.
What will happen when this Godfather software infects a device is that it will open a login page that resembles the real login pages of banking and cryptocurrency applications to steal the device user's username and password.
From here, the information will be sent to their C&C server machine where it will be used to access the user's bank and cryptocurrency accounts to steal money or cryptocurrency for themselves.
Users are advised to ensure that they only download authentic apps on the Google Play Store, and to update their devices with the latest security updates regularly to reduce the risk of being hacked by malware like this.