Fraudulent Apps.
#CyberSafely #CyberSecurity #InfoSec
One would expect that apps that are purchased or downloaded from official market places are legitimate and non-malicious. But that's not always the case.
#CyberSafely #CyberSecurity #InfoSec
One would expect that apps that are purchased or downloaded from official market places are legitimate and non-malicious. But that's not always the case.
A new study by a security research firm reveals that thousands of apps in top app stores are running a highly sophisticated and potentially harmful advertising fraud. By downloading apps from unknown developers, one essentially gives them free reign to do whatever...
... they want with his/her phone.
The most common form of these applications are fake loan apps.
They request for deposits via short codes promising customers that they will get instant loans. They also charge a certain amount of money to ‘register’ or process the said loans.
The most common form of these applications are fake loan apps.
They request for deposits via short codes promising customers that they will get instant loans. They also charge a certain amount of money to ‘register’ or process the said loans.
Once a loan application is done, one is asked to pay some more money to get the loan.
These fraudulent mobile loans applications have the following characteristics among others:
* They request for registration fee for the service.
These fraudulent mobile loans applications have the following characteristics among others:
* They request for registration fee for the service.
* They are never concerned with how the borrower will repay the loan.They never bother about credit scores or collateral while claiming to give out loans.
N/B Paying fees for borrowing a loan can be a normal thing with legitimate lenders but its always deducted from the loan...
N/B Paying fees for borrowing a loan can be a normal thing with legitimate lenders but its always deducted from the loan...
... acquired. Scammers ask for fees before giving out loans.
* They don't have registered physical addresses and contacts.
Their businesses are not registered with county or national governments.
* Have fake or non-existent telephone numbers, websites and addresses.
* They don't have registered physical addresses and contacts.
Their businesses are not registered with county or national governments.
* Have fake or non-existent telephone numbers, websites and addresses.
* They don't have their own registered Paybill numbers. Their phone numbers are ever offline.
* Might mimic mobile applications for financial institutions such as banks.
* Extend these fraud schemes to social media sites.
* Do not have customer care helplines or mechanisms.
* Might mimic mobile applications for financial institutions such as banks.
* Extend these fraud schemes to social media sites.
* Do not have customer care helplines or mechanisms.
To protect yourself from these scams;
* Do not disclose personal details such as PIN, bank accounts details, usernames & passwords.
* Do not install applications from the Internet if you are not sure of their source. This is not limited to fraudulent mobile loans Apps.
* Do not disclose personal details such as PIN, bank accounts details, usernames & passwords.
* Do not install applications from the Internet if you are not sure of their source. This is not limited to fraudulent mobile loans Apps.
* Be wary of “too good to be true” applications on the Internet.
* Report such fraudulent apps to the respective online stores.
* Carry out checks by reading the applications reviews on the respective online stores.
* Report cases of fraud to the Police for investigation.
* Report such fraudulent apps to the respective online stores.
* Carry out checks by reading the applications reviews on the respective online stores.
* Report cases of fraud to the Police for investigation.
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