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Fake Banking Applications Stealing Info Of Number Of Users

Fake applications of ICICI, SBI, Citi, Axis Bank and other top banks are accessible on Google Play. These apps might have stolen info of a number of bank users, states a report by Sophos Labs, the IT security company. These fake android applications have the logo of particular banks that makes them hard for users to distinguish between the original and fake apps, it claimed.

The report additionally claimed that the misleading malware in these applications might have stolen credit card and account details of thousands of users. When contacted with some of the banks cited in the report, they claimed that they have not encountered with any such false apps. On the other hand, some banks have begun an investigation and also alerted the CERT-In—the national nodal origination for managing computer security cases. The fake applications target total 7 banks namely ICICI, SBI, Indian Overseas, Axis, Yes Bank, BoB, and Citi Bank, the report claimed.

On a related note, earlier Google eliminated more than 7 Lakh malicious applications from Play Store that broke its rules. This was 70% more as compared to the applications it removed a year ago. “Not only did we eliminate more bad applications, but we were also capable of identifying and taking action in opposition to them earlier,” Product Manager at Google Play, Andrew Ahn, claimed to the media in an interview.

In fact, 99% of applications with abusive materials were rejected and identified before anybody can install them, he further claimed. Google has designed new detection techniques and models that can verify abusive developer networks and repeat offenders at scale. Google also eliminated almost 100,000 bad developers. “This was achievable via noteworthy enhancements in our capability to detect abuse such as inappropriate content, impersonation, or malware via latest Machine Learning techniques and models,” the firm claimed.