CRIMINALS are increasingly using virtual phones, specifically cloud-based Android devices, to circumvent bank security measures. These 'rent-a-phones' can replicate real device fingerprints, allowing fraudsters to engage in account takeover (ATO) attacks. Though banks have improved security through device fingerprinting, criminals are pre-warming these devices by installing banking apps and executing small transactions to appear low-risk.
Major cloud phone services offer rentals at low costs, which makes this technique accessible to many criminals. To protect against these tactics, users are advised to avoid verification processes through third-party instructions, use official banking apps, enable device security features, and report suspicious activity to their banks.