Android users are being tricked into installing malicious bank account apps: Best 5 ways to stay safe

The increasing technological advancements also pose a potential risk of cybercrimes. People are becoming more dependent on technology for their daily needs leading to a stark rise in cybercrimes. As per reports, around 94% of Indians are Android users. Unfortunately, Android users are facing a new threat from cyber criminals. Android users are being tricked into installing malicious bank account apps. Fraudulent mobile applications mimicking legitimate banking apps that are designed to deceive users and steal their sensitive information are known as malicious bank account apps. 

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Although the Google Play store uses protective measures to ensure no user is being tricked into installing malicious apps it still isn’t 100% safe. Malicious apps often pose as legitimate ones and trick Android users into downloading them. Research shows that around 3,00,000 Android users have been tricked into installing malicious bank account apps. These apps have managed to bypass Google security checks. 

According to reports by ThreatFabric, Anatsa is the most common form of malware currently which has been active since January. It steals user’s personal information such as usernames and passwords and shares them with hackers. This malware can hack your banking apps, steal financial data and intercept with two-factor authentication as well. 

The common characteristics of these malicious bank account apps are as follows:

1. Impersonation: These apps look like legitimate apps by using similar logos, colours and interfaces. Impersonation makes it difficult to distinguish between legitimate and malicious ones.
2. Data Theft: Malicious banking apps steal users’ sensitive information and use them to cause harm.
3. Keylogging and screen recording: Keylogging means capturing keystrokes made by users. Keylogging and screen recording enable attackers to gather the personal information of users. 
4. Phishing attacks: Malicious bank account apps trick users with pop-up ads or unwanted SMSs and emails. They request users to share their personal information such as PINs, Passwords etc.

Worried that these malicious bank account apps will steal your sensitive information? Don’t panic we have got you covered. 

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Here are 5 best ways for Android users to stay safe and protected:

1. Download your banking apps only from trusted sources. Do not download bank account apps from other sites or sources as these may host malicious apps. Always make sure that you are downloading from genuine sources only.
2. Before downloading any bank account app check for its reviews and ratings. Always pay special attention towards negative reviews that mention suspicious activities. 
3. Check for the permissions being requested by the app during installation. If the app asks for any unrelated permission after installation do remove it immediately. 
4. Android users are advised to regularly update their device’s operating system and installed applications. These updates include security patches and help them protect against vulnerabilities. Always install reputable security software that protects you from viruses and detects harmful applications.
5. Always remember that legitimate bank account apps do not request any sensitive information from any links or other related channels. Do not click on any links received via SMS, emails or other instant messaging apps. These links can be from hackers trying to steal your information. 

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