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A New Threat in Disguise

Cybercriminals are evolving, and the latest proof is the rise of the Godfather malware – a sophisticated banking trojan that’s now targeting legitimate banking apps with alarming precision. Designed to mimic trusted applications, Godfather tricks users into handing over sensitive financial data, often without even realizing it. Once embedded, it can steal login credentials, intercept two-factor authentication codes, and drain accounts in seconds.

With over 400 financial institutions already affected globally, including many in the U.S., the Godfather malware is not just another phishing scam – it’s a full-scale digital infiltration.

How the Malware Operates Under the Radar

What makes the Godfather malware especially dangerous is its ability to mask itself inside real, functioning applications. It often gets distributed through fake updates, unofficial app stores, or even cloned versions of popular apps. Once downloaded, it activates silently in the background.

When you try to log into your mobile banking app, Godfather overlays a fake login screen that looks exactly like the original. You enter your details, believing you’re accessing your account – but you’ve just handed over your credentials to hackers. This malware also uses permissions to monitor your keystrokes, intercept text messages, and disable antivirus software.

Why You Might Not See It Coming

Even the most tech-savvy users can fall victim to this malware. That’s because it doesn’t slow down your phone or display obvious warning signs. Everything appears normal – until it’s too late. Financial institutions are urging customers to be extra cautious, especially when downloading apps or clicking on links sent through text or email.

If your bank account shows unexpected activity, you receive unrecognized login alerts, or your device asks for strange permissions after an update, you could be infected. But by the time most users notice anything, their accounts have already been compromised.

What You Can Do to Stay Protected

To avoid falling prey to the Godfather malware, always download apps only from official sources like the Apple App Store or Google Play. Avoid third-party stores or unofficial links, even if they look legitimate. Regularly update your device and apps to patch security vulnerabilities, and never ignore unusual permission requests or system warnings.

Enabling two-factor authentication (2FA) and using a reputable mobile security app can also offer a second line of defense. Remember: malware like Godfather relies on you being unprepared – don’t give it that chance.

Have you wondered why unsolicited calls, text messages, emails, and junk mail from other lenders occur right after you applied for a mortgage or car loan? It is not a result of bankcda  selling your information to other lenders.   The increased contact is likely coming from “trigger leads.”

WHAT ARE TRIGGER LEADS?

First, your personal information is never sold by bankcda.   We value and protect your privacy and personal information.  However, other entities such as credit bureaus have access to your personal information, and they are allowed to sell your personal information to other lenders who pay the credit bureaus for “trigger leads”.

When bankcda pulls your credit report as part of a loan application, that action is recorded by the credit bureau and signals that you are interested in obtaining a loan.  Other lenders, depending on your credit score and other factors, buy this information and your contact information from the credit bureau and use it to make an unsolicited offer to you.  This information is known as a “trigger lead” and credit bureaus sell these leads as a way to make additional money.

 

WHAT IS THE PURPOSE OF SELLING THIS INFORMATION?

Lenders use trigger leads to contact consumers and make unsolicited offers, hoping that you’ll be interested in their financial products or services, because of your recent credit check.

For instance, if you’ve recently applied for a car loan from bankcda, you might find yourself receiving offers from mortgage companies inquiring if you are interested in a home loan. These are trigger leads in action.

 

WHY ARE TRIGGER LEADS CONTROVERSIAL?

 

HOW TO OPT-OUT OF TRIGGER LEADS?

bankcda will never sell your personal information to a third party.  Unfortunately, we cannot prevent other entities like the credit bureaus from selling your personal information that they also have access to.  However, you can take steps to protect your information and prevent this from happening.  These are steps you can take:

These Frequently Asked Questions are explanatory only and do not supplement or modify any obligations imposed by statute or regulation. Please refer to the Beneficial Ownership Information Reporting Rule and Beneficial Ownership Information Access and Safeguards Rule, available at www.fincen.gov/boi, for details on specific provisions. FinCEN expects to publish further guidance in the future. Questions on any of this content can be directed to https://www.fincen.gov/contact.

Updated March 2025.

As technology advances, so do the methods used by scammers to target unwitting consumers. This is evident in romance scams, where a scammer’s easily identifiable red flags, such as a poorly written, inconsistent, or sparse online personal profile, are replaced by elaborate AI-generated profiles that can be much more difficult to recognize.

For Immediate Release: March 2025

As financial technology has evolved, it has given consumers the ability to shop, save, and invest online using their phones, tablets, and computers. These modern financial conveniences, however, come with risk. “As we all conduct more transactions online, we need to raise our awareness to help protect our financial information”, said Patricia Perkins, Director of the Idaho Department of Finance.

For Immediate Release: July 2021