German financial authorities are urging caution after malware known as “Godfather” infiltrated hundreds of banking and cryptocurrency apps worldwide, including those used in Germany.

Federal Financial Supervisory Authority (BaFin) issued a statement on Monday, revealing the malware’s presence but expressing uncertainty about its infection method. However, they confirmed “Godfather” records user input on targeted banking and crypto apps.

Experts believe “Godfather” functions as a Trojan, mimicking legitimate banking apps to trick users into entering login details. This stolen information is then transmitted to cybercriminals for unauthorized access to accounts and wallets.

BaFin’s warning coincides with similar concerns raised in December 2022. Back then, reports indicated “Godfather” primarily affected Android devices across 16 countries. 

The German Federal Office for Information Security (BSI) has offered resources to help users stay safe. A video guide on using mobile apps securely is available, along with information about “Godfather” on their website (in German, translation recommended). 

This incident highlights the importance of vigilance when using banking and financial apps. Users should be cautious of suspicious login screens and avoid entering sensitive information on unfamiliar platforms.