Cybercriminals spoof banks through social media campaigns, using psychological tactics and advanced digital methods to execute fraud. This recent trend was detailed by the firm ESET, which identified operations in Argentina where criminals imitated the image of renowned banking institutions.
How cybercriminals spoof banks: social engineering and malicious applications
The process begins with the creation of fraudulent pages on social platforms like Facebook. Cybercriminals spoof banks to attract primarily older adults by offering fake discounts. The deception deepens with WhatsApp calls, where scammers pretend to be legitimate bank employees and induce users to install the “Supremo” app via the official Android store.
- This application allows attackers to remotely control the victim’s cell phone.
- They can view the screen, transfer files, and access banking apps to steal money and information.
- Many affected individuals have reported the loss of funds or loans taken out in their name.
According to Martina Lopez, a researcher at ESET Latin America, “The scammers’ innovation is taking control of the banking device, bypassing educational campaigns that recommend not sharing credentials.”
Dangers and scope: cybercriminals spoof banks and major brands
The use of “Supremo” for fraud not only affects banks: according to the ESET report, campaigns have also been seen where cybercriminals spoof banks and brands like Netflix, Starlink, Mercado Libre, and YPF. Comments on Google Play reflect the testimonies of affected Argentine users since May 2024.
How to protect yourself if cybercriminals spoof banks and control devices?
- Be suspicious of offers that require installing little-known applications or receiving unsolicited calls.
- Always verify the legitimacy of the contact through the bank’s official channels.
- Do not share confirmation codes or perform installations recommended by unknown third parties.
Digital fraud techniques evolve rapidly. In the Latin American context, identity theft through social engineering is one of the fastest-growing threats in banking and technological services, as analyzed in our article banking security in the digital age. In addition, it is essential to consult updated and official sources, such as the ESET Computer Security Institute.
Critical analysis: Why do cybercriminals spoof banks successfully?
The key to the success of these frauds lies in social engineering and the trust generated by the use of legitimate banking channels. Cybercriminals spoof banks by adapting their methods to awareness campaigns, managing to breach even victims who know basic security measures.
In the Dominican Republic and the region, the recommendation is to reinforce digital surveillance and read our research on digital scams: how to detect them.
Given the advance of attacks where cybercriminals spoof banks and take control of cell phones, prevention and digital education remain the most effective barrier against cyberfraud.
