New Phone Scam Can Steal Your Bank Codes: How to Protect Your Money

A dangerous new Android malware called RedWing is being sold on Telegram like a rental service. Criminals who lack technical skills can pay to use this tool to take complete control of someone's phone. Once they're in, they can steal banking usernames, passwords, and even the one-time security codes that are supposed to protect your accounts. Security company Zimperium discovered this operation and found it's similar to another rental malware service called Oblivion, which costs criminals $300 per month to use. This threat affects anyone using an Android phone, especially those who use mobile banking apps. If your phone gets infected, criminals can watch everything you do. They can see your bank login information as you type it. They can intercept the text messages with security codes that your bank sends. This gives them everything they need to break into your bank account and steal your money.

Here's what you should do right now to protect yourself:

1. Only download apps from the official Google Play Store. Never install apps from links in text messages, emails, or websites.
2. Check your phone's app list. Go to Settings, then Apps. Remove anything you don't recognize or didn't intentionally install.
3. Keep your Android system updated. Go to Settings, then System, then System Update and install any available updates.
4. Review your bank statements immediately. Look for any charges you don't recognize and report them to your bank right away.
5. Enable Google Play Protect. Go to the Play Store, tap your profile icon, select Play Protect, and turn it on if it's not already active. For long-term protection, make it a habit to review what's installed on your phone monthly. Be extremely suspicious of any app that asks for unusual permissions, especially permission to read your text messages or access your screen. Never click links in unexpected text messages, even if they appear to come from your bank. Instead, open your banking app directly or call your bank using the number on your card. Teaching these habits to everyone in your family, especially teens and elderly relatives, creates a stronger defense against these rental malware services.