Spyloan apps are everywhere But people keep falling for them. They promise simple loans with flexible repayments, but what they actually do is steal personal data such as contacts, confidential images, files and more. The moment you receive the loan, they will start blackmailing you using your own data against you.
Some of these apps don’t even give you a loan. They grab your data and start harassing you. One such app creates rounds in the Play Store, earning over 100,000 downloads, putting thousands of Android users at risk of terror mail and terror.
Man scrolling on smartphone (Kurt “Cyberguy” Knutsson)
How malware spreads and leads to fraud and extortion
Spylend has spread to the Google Play Store under the guise of a reliable financial management tool, “Finance Simplified,” BleepingComputer. By providing quick loans with minimal documentation, we attracted financially vulnerable individuals.
The app has surged from 50,000 to 100,000 downloads in a week despite the red flag of user reviews about harassment and scary mail.
Upon downloading, the app requested excessive permissions, far beyond what a typical financial app needed, including contacts, SMS messages, call logs, photos, location data. This allowed the malware to quietly collect personal information from the user’s device.
Stolen data promoted a vicious cycle of fraud and terror. Spyloan apps like SPYLEND seduce users with attractive loan terms, but only misuse data due to predatory lending practices. If the user does not meet the repayment request, the operator will weaponize the information by harassing them, leaking private photos, contacting friends and family members, and threatening them with the threat of creating an environment of fear and coercion.
In some cases, fear tor used stolen images to expand into public embarrassment and deepfake creation, expanding psychological and financial sacrifices to victims.
We reached out to you about the incident and a Google spokesperson said, “The app has been removed from Google Play. Android users are automatically protected from known versions of this malware. Google Play Protectexists by default on Android devices with Google Play services. Google Play Protect can alert users and block apps known to show malicious behavior.
However, it is important to note that Google Play Protect may not be sufficient. Historically, it’s not 100% absolutely difficult to remove all emerging malware from your Android device.
Malicious apps on Google Play (BleepingComputer) (Kurt “Cyberguy” Knutsson)
Android Banking Trojans evolve to avoid detection and strike globally
Sensitive data stolen by the app
Spylend is a serious threat as it steals a huge amount of personal information. Drill into your contact list and call history, read text messages containing bank alerts, grab photos and videos from storage.
It also collects device details such as model and OS version, tracks locations in real time every 3 seconds, records past locations and IP addresses, and stores the last 20 copied text from the clipboard. In addition, it collects financial data such as loan history and bank SMS messages.
This stolen data is often sold to cybercriminals, so it is not used exclusively for fear emails. By preying on people who are already struggling financially, Spylend puts almost every part of their digital life at risk.
Samsung phone (Kurt “Cyberguy” Knutsson)
Android Banking Trojans pretend to be Google Play to steal data
Six ways to stay safe from Spyloan apps
1) Avoid suspicious loan apps: Stick to apps from famous banks, credit unions, or lenders registered with the Consumer Financial Protection Agency or other regulatory bodies.
2) Install powerful antivirus software: Use powerful antivirus protection on all devices to detect and prevent malicious apps. This can also protect you from phishing emails and ransomware scams. The best way to protect yourself from malicious apps is to install antivirus software on all your devices. This protection can also warn you that it will phish email and ransomware scams and keep your personal information and digital assets safe. Get the best 2025 Antivirus Protection Winners picks for Windows, Mac, Android and iOS devices.
3) Download the app from a reliable source: It is important to download apps only from trusted sources such as the Google Play Store. You might say I’m inconsistent with myself, but the Play Store is still safer than the other options. There are strict checks to prevent malware and other harmful software. However, despite the security measures provided by Google Play, downloading apps from the store does not guarantee 100% protection against malware or harmful software. Do not download apps from unknown websites or unofficial stores. Personal data and devices can be at increased risk. Don’t trust download links that go through SMS.
4) Carefully check the app permissions: If the app requests unnecessary permissions such as contact access, call logs, storage, etc., do not install them. A legitimate loan app only requires important permissions related to financial transactions.
5) Check the review and red flag. Please read user reviews carefully before installing the financial app. Avoid the app entirely if multiple people report harassment, scary email, or excessive permissions.
6) Report and uninstall suspicious apps. If you run into the Spyloan app, do it immediately Uninstall Revoke that privilege. Report to the Google Play Store, cybersecurity authorities and financial regulators to help prevent further victims.
If you share sensitive information, consider changing your password and protecting your account. Consider using Password Manager Generate and store complex passwords. Get my details Find the best expert reviewed password managers of 2025 here.
Hidden Costs of Free Apps: Your Personal Information
Important points of cart
A quick and easy money promise can be attractive, especially during difficult times, and you can easily fall into these scams. However, there are safer and more reliable ways to take the loan. The general rule is that it’s best to avoid borrowing money through online apps, unless it comes from a well-known financial institution. Google also needs to be responsible for allowing the Spyloan app on the Play Store, even if the user’s reviews clearly indicate maliciousness.
Do you think Google is doing enough to crack down on predatory loan apps? Write us and let us know cyberguy.com/contact.
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