Is Your Mobile Banking App Safe? | CORPORATE ETHOS

Is Your Mobile Banking App Safe?

By: | January 16, 2018
Bankingmobileapps

Banks urge customers to install their mobile banking apps as an easy way to conduct transactions and know the status of your account. However, are they really safe? A study by QuickHeal Security Labs has found that 12 Android Indian banking apps are at risk following its exposure to a malware AndroidbankerA9480. It will steal user credentials, hijack SMS, show fake notifications, send USSD requests and upload user’s contact list on a malicious server, according to a report in GadgetsNow.com

The mobile banking apps under risk are:

1)Axis.mobile (Axis Mobile)
2) Snapwork.hdfc (HDFC Bank Mobile Banking)
3)sbi.SBIFreedomPlus (SBI Aywhere Personal)
4)hdfcquickbank (HDFC Bank Mobilebanking LITE)
5)csam.icicibank.imobile (iMobile by ICICI Bank)
6)snapwork.IDBI (IDBI Bank Go Mobile)
7)Idbibank.abhay_card (Abhay by IDBI Bank Ltd)
8)com.idbi (IDBI Bank Go Mobile)
9)idbi.mpassbook (IDBI Bank mPassbook)
10)co.bankofbaroda.mpassbook (BarodamPassbook)
11)unionbank.ecommerce.mobile.android (Union Bank Mobile Banking)
12)Unionbank.ecommerce.mobile.commercial.legacy (Union Bank Commercial Clients).

Smart phone users are increasingly under security risk due to permissions policy of apps that enables the service providers to access contacts and information stored in the hand set. It also may get access to device camera and to make calls or SMS without informing the user.

Technology anaysts pointed out that android phone users need to verify permissions given to apps and preventing hacking.