Your bank account might be compromised in seconds, Google says.

Millions of Android users worldwide have been warned of a frightening new threat. Hackers have devised a means to deceive individuals who believe their phone is off.

Cybercriminals have installed a false black screen to mask their activities.

They can remotely dim the screen and deactivate alerts to avoid suspicion.

This means they can do anything they want on your phone without you knowing.

The infection allows them to interact with the phone as if it were in their hands.

Worse, it can track your activity, which is ideal for stealing crucial PINs and passwords.

Octo is a kind of on-device fraud and banking malware.

Experts say it has already been seen in the wild.

Threat Fabric identified it on the dark web, where cybercriminals dwell.

People are tricked into downloading malware by false browser or Google Play Store app update notifications.

Octo was also spotted in a 50,000-installed program named Fast Cleaner.

It was taken down in February.

Octo is a 2018 edition of a terrible malware named ExobotCompact.

Ingenious distribution tactics such as droppers on the official Google Play store and malicious landing sites enable ExobotCompact/Octo to be harmful.

“Customers are thus highly likely to download malware onto their devices, giving the perpetrators remote access to their gadgets and thereby their banking accounts.”