Cybercriminals are stealing Face ID scans to break into mobile banking accounts

The latest wave of cybercriminals are targeting iOS users in Thailand with Face ID thefts that allow them to steal money from victims.

iPhone owners in Thailand fall prey to cybercriminals stealing Face ID scans that are then used to break into their bank accounts in a world first in cybercrime.

A Chinese-speaking cybercrime group, dubbed GoldFactory, started distributing trojanized smartphone apps in June of last year, as reported by the Register. GoldPickaxe and GoldPickaxe.iOS targets Android and iOS systems, tricking users into performing biometric verification checks and harvesting that information.

This biometric data is then used to bypass the same security checks used by actual finance apps in Vietnam and Thailand. This gives cybercriminals access to bank accounts and the ability to siphon off funds. So far, this specific type of crime is limited to these two countries, but there is fear of it spreading worldwide.

Having initially started in Thailand by appearing as the Thai government’s official digital pensions app, it then quickly spread to Vietnam. Authorities have had reports of very similar attacks taking place in both countries, resulting in the theft of tens of thousands of dollars.

Android malware is often considered more common in such attacks, but in this case, it’s the reverse. There are generally much tighter security controls on iOS systems, but with GoldFactory, the Android hack is far simpler.

Researchers found that the Android version bore many more disguises than the iOS version, showing up in more than 20 different false government, finance, and utility organizations in Thailand. For iPhones, the cybercriminals rely on input from the victims themselves, impersonating government authorities on the LINE messaging app and gaining access to key information that way.

From there, they convinced victims (often elderly) to download GoldPickaxe.iOS directly and use the same techniques as Android users.

Featured image: Unsplash

The post Cybercriminals are stealing Face ID scans to break into mobile banking accounts appeared first on ReadWrite.