Fake Banking apps are making a comeback. As we already covered, there are fake apps of ICICI Bank, Yes Bank, Axis and even HDFC Bank on the play store.
These fake banking apps may have compromised banking data of more than 160,000 people in the country recently.
The fake banking apps have are now targeting account holders from as many as seven Indian banks: SBI, ICICI, IOB, Axis, BOB, Yes Bank and Citibank. Digital banking in the country has lately ended up in more online frauds.
While the banks and government both are working hard to build a secure digital financial system in the country, these fake apps continue to lure customers with fraudulent offers. The fake bank apps are a close copy of the real banking apps confusing new internet users.
According to the experts, these fake app developers lure account holders by promising huge rewards like free cash, mobile data and zero-interest loans once they down the app.
Fake bank apps will continue to lure around customers. It’s you who can keep yourself safe from such fraudsters. Here are some tips to stay alert against such fake banking apps:
Verify The Developer
The developer’s name is always there in the app. Banks will not have any individual, so see if the developer is an organization or not. Also, see if there’s any website mentioned. Banks generally have their official website mentioned with details.
See The Number Of Downloads
Bank apps are quite popular on the play store. Check the number of downloads. Fake apps will not have much of the downloads. If you see only a few downloads, there are high chances that this app is fake. If its a newly launched, Google and go the bank’s site and follow the official link.
Go through the app description. Fake apps do not have well-explained descriptions. You can easily identify the right from the wrong information given. Also genuine apps properly explain the details, features and the uses of the application.
Checking The Reviews
Go through a few reviews. If you found something fishy, do not install. Chances are that you will find reviews from users who have used the app and found it to be fake. If there are only a few reviews, and all of them just have 5-star ratings without anything in specific, probably the reviews are fake.
Check The Bank’s Official Website
The best way to figure out whether a banking app is fake or not, is to check the bank’s website, and then click on the link to download the app. Besides, you can also call their customer care or visit the branch to verify.
Already Downloaded By Mistake?
Even if you have downloaded a fake bank app and quickly found out that it’s a fake, immediately uninstall. If you may have logged in or granted access to files and details, get rid of the residual files. Also, to be extra safe, change your banking passwords.
Used It By Mistake?
In case you already made a transaction on the app, immediately rush to your branch, or any branch of your respective bank. If you are able to move, call your bank and inform that they should block your account.
Reporting The App
As you know its a fake app, do report it. You will find ‘Flag as Inappropriate’ down below. Choose a reason why you are reporting and click submit. Google has the report, so the reviewers will re-check the app to put it down from the play store.
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