Because they are (1) vulnerable to hack, (2) have high utilization and subscribers, and (3) manage or store valuable information that can be sold for profit, mobile apps have become a favourite target for hackers.
One method used by hackers to attack apps is to target a component within the app that they are already aware of. Remember that almost all mobile apps encompass components, such as pre-built library services and SDKs, which are critical to how mobile apps work.
Rogue mobile app frauds accounted for 27% of the total value of fraudulent payments in 2018. 2019, grew to 36% in 2021 – RSA Security
What are rouge applications?
Rogue apps are mobile applications that impersonate respected brands in order to gain unauthorised access to data that can be used to deceive people.
The data can be authentication data like userid, password, OTP, etc. or business data like credit card data, account data, personal information, etc.
These malicious apps can infect users with malware, ransomware, or trick them into submitting their payment information to attackers. Fraudsters will occasionally generate rogue apps that do nothing other than charge the consumer for the download.
How rouge apps are driving fraud campaigns?
While mobile applications and app stores work hard to prevent the allocation and download of malicious apps, it's often a cat-and-mouse game that leaves both businesses and customers exposed.
The criminal organisations behind these phoney branded apps are becoming more sophisticated. In one latest instance, a slew of various apps, including email and multi purpose apps, were employed to steal the user's login information for financial services, cryptocurrency, and digital payments.
These rogue mobile apps can be downloaded from both verified sources such as the App Store and Play Store, as well as malicious websites that look like these trusted app archives. These links are frequently promoted through phishing scams and dishonest social media pages. And, as QR codes like the one used in the 2022 Super Bowl gain popularity, the FBI is alerting customers and companies that these 2-D codes will be used to direct unsuspecting people to these fraudulent apps.
Protect your data from rouge mobile apps with SecureChannel
During these times of increasing security risks, SecureChannel provides you that impregnable wall of defence that’ll protect your device, data and accounts from being hacked.
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