Cyber Security
Predatory SpyLoan Apps: Loan Sharks Expand Their Range to Android, says ESET
This year, ESET researchers have observed alarming growth in deceptive Android loan apps, which present themselves as legitimate personal loan services, promising quick and easy access to funds. Despite their attractive appearance, these services are designed to defraud users by offering them high-interest-rate loans endorsed with deceitful descriptions, all while collecting their victims’ personal and financial information to blackmail them. ESET products therefore recognize these apps using the detection name SpyLoan, which directly refers to their spyware functionality combined with loan claims. SpyLoan apps are marketed through social media and SMS messages and are available for download from dedicated scam websites, third-party app stores, and also Google Play.
ESET is a member of the App Defense Alliance (ADA) and an active partner in the malware mitigation program, which aims to quickly find Potentially Harmful Applications and stop them before they ever make it onto Google Play. As an ADA member, ESET identified 18 SpyLoan apps and reported them to Google, who subsequently removed 17 of these apps from their platform. These apps had a total of more than 12 million downloads from Google Play before their removal. The final app listed changed its behaviour; ESET therefore no longer detects it as a SpyLoan app.
Every instance of a particular SpyLoan app, regardless of its source, behaves identically due to its identical underlying code. It doesn’t matter whether the download came from a suspicious website, a third-party app store, or even Google Play — the users will experience the same functions and face the same risks, regardless of where they got the app.
According to ESET telemetry, the enforcers of these apps, who blackmail and harass their victims, even with death threats, operate mainly in Mexico, Indonesia, Thailand, Vietnam, India, Pakistan, Colombia, Peru, the Philippines, Egypt, Kenya, Nigeria, and Singapore. ESET researchers believe that any detections outside of these countries are related to smartphones that have, for various reasons, access to a phone number registered in one of these countries. There are currently no active campaigns targeting European countries, the USA, or Canada.
Apart from data harvesting and blackmail, these services present a form of modern-day digital usury, which refers to the charging of excessive interest rates on loans, taking advantage of vulnerable individuals. Victims of these apps claim the total annual cost (TAC) of such loans is much higher than stated, and the loan tenure is much shorter than stated. In some cases, borrowers were pressured to pay off their loans in five days, instead of the stated 91 days, and the TAC of a loan was anywhere between 160% and 340%.
“These malicious applications exploit the trust that users place in legitimate loan providers, using sophisticated techniques to deceive people and steal a very wide range of personal information,” says ESET researcher Lukáš Štefanko, who uncovered many of the SpyLoan apps. “It is crucial for individuals to exercise caution, validate the authenticity of any financial app or service, and rely on trusted sources. By staying informed and vigilant, users can better protect themselves from falling victim to such deceptive schemes,” he adds.
ESET Research has traced the origins of the SpyLoan scheme back to 2020. Once a user installs a SpyLoan app, they are prompted to accept the terms of service and grant extensive permissions to access sensitive data stored on the device. According to the privacy policies of these apps, if those permissions are not granted, the loan will not be provided. To complete the loan application process, users are also compelled to provide extensive personal information.
The data that is usually exfiltrated to the Command and Control (C&C) server includes the user’s list of accounts, call logs, calendar events, device information, lists of installed apps, local Wi-Fi network information, and even information about files on the device. Additionally, contact lists, location data, and SMS messages are vulnerable. To protect their activities, the perpetrators encrypt all the stolen data before transmitting it to the C&C server. While legitimate financial institutions are required to collect personal information about their customers, identity verification and risk assessment can be done using much less intrusive data collection methods. ESET Research believes the real purpose of the permissions requested by SpyLoan apps is to spy on their users and harass and blackmail them and their contacts.
After such an app is installed and personal data is collected, the app’s enforcers start to pressure their victims into making payments, even if — according to the reviews — the user didn’t apply for a loan or applied but the loan wasn’t approved. Such practices have been described in the reviews of these apps on Facebook and Google Play.
“There are several reasons behind the rapid growth of SpyLoan apps. One is that the developers of these apps take inspiration from successful FinTech — financial technology — services, which leverage technology to provide streamlined and user-friendly financial services,” explains Štefanko.
Cyber Security
Positive Technologies Reports 80% of Middle East Cyberattacks Compromise Confidential Data
A new study by cybersecurity firm Positive Technologies has shed light on the evolving cyber threat landscape in the Middle East, revealing that a staggering 80% of successful cyberattacks in the region lead to the breach of confidential information. The research, examining the impact of digital transformation, organized cybercrime, and the underground market, highlights the increasing exposure of Middle Eastern nations to sophisticated cyber threats.
The study found that one in three successful cyberattacks were attributed to Advanced Persistent Threat (APT) groups, which predominantly target government institutions and critical infrastructure. While the rapid adoption of new IT solutions is driving efficiency, it simultaneously expands the attack surface for malicious actors.
Cybercriminals in the region heavily utilize social engineering tactics (61% of cases) and malware (51%), often employing a combination of both. Remote Access Trojans (RATs) emerged as a primary weapon in 27% of malware-based attacks, indicating a common objective of gaining long-term access to compromised systems.
The analysis revealed that credentials and trade secrets (29% each) were the most sought-after data, followed by personal information (20%). This stolen data is frequently leveraged for blackmail or sold on the dark web. Beyond data theft, 38% of attacks resulted in the disruption of core business operations, posing significant risks to critical sectors like healthcare, transportation, and government services.
APT groups are identified as the most formidable threat actors due to their substantial resources and advanced technical capabilities. In 2024, they accounted for 32% of recorded attacks, with a clear focus on government and critical infrastructure. Their activities often extend beyond traditional cybercrime, encompassing cyberespionage and even cyberwarfare aimed at undermining trust and demonstrating digital dominance.
Dark web analysis further revealed that government organizations were the most frequently mentioned targets (34%), followed by the industrial sector (20%). Hacktivist activity was also prominent, with ideologically motivated actors often sharing stolen databases freely, exacerbating the cybercrime landscape.
The United Arab Emirates, Saudi Arabia, Israel, and Qatar, all leaders in digital transformation, were the most frequently cited countries on the dark web in connection with stolen data. Experts suggest that the prevalence of advertisements for selling data from these nations underscores the challenges of securing rapidly expanding digital environments, which cybercriminals are quick to exploit.
Positive Technologies analyst Alexey Lukash said, “In the near future, we expect cyberthreats in the Middle East to grow both in scale and sophistication. As digital transformation efforts expand, so does the attack surface, creating more opportunities for hackers of all skill levels. Governments in the region need to focus on protecting critical infrastructure, financial institutions, and government systems. The consequences of successful attacks in these areas could have far-reaching implications for national security and sovereignty.”
To help organizations build stronger defenses against cyberthreats, Positive Technologies recommends implementing modern security measures. These include vulnerability management systems to automate asset management, as well as identify, prioritize, and remediate vulnerabilities. Positive Technologies also suggests using network traffic analysis tools to monitor network activity and detect cyberattacks. Another critical layer of protection involves securing applications. Such solutions are designed to identify vulnerabilities in applications, detect suspicious activity, and take immediate action to prevent attacks.
Positive Technologies emphasizes the need for a comprehensive, result-driven approach to cybersecurity. This strategy is designed to prevent attackers from disrupting critical business processes. Scalable and flexible, it can be tailored to individual organizations, entire industries, or even large-scale digital ecosystems like nations or international alliances. The goal is to deliver clear, measurable results in cybersecurity—not just to meet compliance standards or rely on isolated technical fixes.
Cyber Security
Axis Communications Sheds Light on Video Surveillance Industry Perspectives on AI
Axis Communications has published a new report that explores the state of AI in the global video surveillance industry. Titled The State of AI in Video Surveillance, the report examines the key opportunities, challenges and future trends, as well as the responsible practices that are becoming critical for organisations in their use of AI. The report draws insights from qualitative research as well as quantitative data sources, including in-depth interviews with carefully selected experts from the Axis global partner network.
A leading insight featured in the report is the unanimous view among interviewees that interest in the technology has surged over the past few years, with more and more business customers becoming curious and increasingly knowledgeable about its potential applications.

Mats Thulin, Director AI & Analytics Solutions at Axis Communications
“AI is a technology that has the potential to touch every corner and every function of the modern enterprise. That said, any implementations or integrations that aim to drive value come with serious financial and ethical considerations. These considerations should prompt organisations to scrutinise any initiative or investment. Axis’s new report not only shows how AI is transforming the video surveillance landscape, but also how that transformation should ideally be approached,” said Mats Thulin, Director AI & Analytics Solutions at Axis Communications.
According to the Axis report, the move by businesses from on-premise security server systems to hybrid cloud architectures continues at pace, driven by the need for faster processing, improved bandwidth usage and greater scalability. At the same time, cloud-based technology is being combined with edge AI solutions, which play a crucial role by enabling faster, local analytics with minimal latency, a prerequisite for real-time responsiveness in security-related situations.
By moving AI processing closer to the source using edge devices such as cameras, businesses can reduce bandwidth consumption and better support real-time applications like security monitoring. As a result, the hybrid approach is expected to continue to shape the role of AI in security and unlock new business intelligence and operational efficiencies.
A trend that is emerging among businesses is the integration of diverse data for a more comprehensive analysis, transforming safety and security. Experts predict that by integrating additional sensory data, such as audio and contextual environmental factors caught on camera, can lead to enhanced situational awareness and greater actionable insights, offering a more comprehensive understanding of events.
Combining multiple data streams can ultimately lead to improved detection and prediction of potential threats or incidents. For example, in emergency scenarios, pairing visual data with audio analysis can enable security teams to respond more quickly and precisely. This context-aware approach can potentially elevate safety, security and operational efficiency, and reflects how system operators can leverage and process multiple data inputs to make better-informed decisions.
According to the Axis report, interviewees emphasised that responsible AI and ethical considerations are critical priorities in the development and deployment of new systems, raising concerns about decisions potentially based on biased or unreliable AI. Other risks highlighted include those related to privacy violations and how facial and behavioural recognition could have ethical and legal repercussions.
As a result, a recurring theme among interviewees was the importance of embedding responsible AI practices early in the development process. Interviewees also pointed to regulatory frameworks, such as the EU AI Act, as pivotal in shaping responsible use of technology, particularly in high-risk areas. While regulation was broadly acknowledged as necessary to build trust and accountability, several interviewees also stressed the need for balance to safeguard innovation and address privacy and data security concerns.
“The findings of this report reflect how enterprises are viewing the trend of AI holistically, working to have a firm grasp of both how to use the technology effectively and understand the macro implications of its usage. Conversations surrounding privacy and responsibility will continue but so will the pace of innovation and the adoption of technologies that advance the video surveillance industry and lead to new and exciting possibilities,” Thulin added.
Artificial Intelligence
CyberKnight Partners with Ridge Security for AI-Powered Security Validation
The automated penetration testing market was valued at roughly $3.1 billion in 2023 and is projected to grow rapidly, with forecasts estimating a compound annual growth rate (CAGR) between 21% and 25%. By 2030, the sector is expected to reach approximately $9 to $10 billion. The broader penetration testing industry is also expanding, with projections indicating it will surpass $5.3 billion by 2027, according to MarketandMarket.
To support enterprises and government entities across the Middle East, Turkey and Africa (META) with identifying and validating vulnerabilities and reducing security gaps in real-time, CyberKnight has partnered with Ridge Security, the World’s First Al-powered Offensive Security Validation Platform. Ridge Security’s products incorporate advanced artificial intelligence to deliver security validation through automated penetration testing and breach and attack simulations.
RidgeBot uses advanced AI to autonomously perform multi-vector iterative attacks, conduct continuous penetration testing, and validate vulnerabilities with zero false positives. RidgeBot has been deployed by customers worldwide as a key element of their journey to evolve from traditional vulnerability management to Continuous Threat Exposure Management (CTEM).
“Ridge Security’s core strength lies in delivering holistic, AI-driven security validation that enables organizations to proactively manage risk and improve operational performance,” said Hom Bahmanyar, Chief Enablement Officer at Ridge Security. “We are delighted to partner with CyberKnight to leverage their network of strategic partners, deep-rooted customer relations, and security expertise to accelerate our expansion plans in the region.”
“Our partnership with Ridge Security is a timely and strategic step, as 69% of organizations are now adopting AI-driven security for threat detection and prevention,” added Wael Jaber, Chief Strategy Officer at CyberKnight. “By joining forces, we enhance our ability to deliver automated, intelligent security validation solutions, reaffirming our commitment to empowering customers with resilient, future-ready cybersecurity across the region.”
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