The FBI warning is based on the fact that there has been a rise in the number of malicious applications developed for stealing data from innocent victims who use them for some legitimate purposes.
A New Wave of Sophisticated Threats
According to the FBI, cybercriminals are increasingly exploiting counterfeit and compromised apps, which closely mimic the real app to the point that it becomes very hard for users to tell them apart from the original.
“The sophistication of the attackers is increasing daily,” the agency explained in its warning statement. “In many cases, the applications exploited in these attacks are nearly indistinguishable from their legitimate counterparts.”
While previously hackers could easily be detected by a number of red flags, the recent apps have been developed in a manner that makes them seem real.
Financial Apps Among the Most Dangerous
Nevertheless, FBI’s warning focuses specifically on fraud in financial applications, because lately hackers have been focusing mostly on them.
The fake applications often claim that they will offer investors opportunities for investment or lending of their funds. Once downloaded, such applications typically request certain privileges from the user or confidential data from him, such as the login details to a bank account.
“As a result, people fall for the promise of a good return on investments or fast approval,” noted a security expert. “It is not until later that victims realize that something went terribly wrong.”
Often victims had to pay tens of thousands of dollars for this reason.
Courtesy Of Rick Wilson ( Flickr CC0)How Users Are Being Targeted
There are various means adopted by cyber criminals to distribute malicious applications. While certain applications may be effectively installed using the application store’s approval process, others are disseminated through websites, advertising via social networking sites, or through direct messaging.
Phishing attacks also serve as another common strategy used to disseminate malicious software. The victim is generally presented with an immediate message urging him to install a particular application to solve any issues.
“Urgency is very important,” according to the FBI. “The idea is that victims will immediately click on and download the app before even verifying that it is legitimate.”
When downloaded, such apps run in the background on the user’s device.
Warning Signs to Watch For
Regardless of how sophisticated these types of applications might seem to be, there are certain signs that make them dangerous.
Firstly, any application which requests permission to access contact list, messages, and system settings might signal trouble. Second, low rating and few downloads as well as unknown information about developers might also serve as clues.
“If it feels fishy, it probably is,” says a mobile security specialist.
Lastly, another clue for malicious applications is when users are prompted to download from sources other than official app stores.
Steps to Stay Protected
There are several steps which FBI suggests that the user takes in order to avoid such threats.
Firstly, all applications should be installed exclusively from trustworthy sources such as Apple App Store or Google Play Store. In addition, one should make sure that a source of the application is genuine and that the app was positively reviewed by other users.
Secondly, it is essential to keep the device updated because often updates contain patches to vulnerabilities.
Finally, two-factor authentication should be enabled to increase protection against hackers.
“Cybersecurity is everyone’s responsibility,” said FBI. “Users play a crucial role in protecting their information.”
Tech Giants Respond to Growing Threats
Both Apple and Google have been working towards improving their app review process due to the growing number of security risks.
Though both companies use automatic tools as well as human intelligence to detect anything fishy, the sheer volume of applications they receive daily makes it impossible for them to keep all applications free from any security threat.
“Perfect things don’t exist anywhere in this world,” an expert in the tech field pointed out. “Thus, it becomes highly important that users remain vigilant.”
Besides this, other initiatives being implemented by these tech giants include transparency, which entails giving comprehensive information regarding how user data is used.
The Growing Cost of Mobile Fraud
Financial damage is very serious and becomes even worse, as it increases.
According to cybercrime security authorities, several hundred million dollars are being stolen every year because of the fraudulent use of apps. Apart from this, the risks include not only financial losses but also threats to one’s privacy and safety of personal information.
“It is almost impossible to regain control once this information is available,” said a fraud expert.
The alert given by the FBI demonstrates just how risky mobile technologies can be in inexperienced hands.
A Wake-Up Call for Users
Ultimately, it seems to have less to do with specific apps and more to do with a new phenomenon developing in the world of digital threats.
“Let me be frank,” said one cybersecurity expert. “Not everything found in an app store is necessarily safe by default.”
Being proactive and keeping your eyes open is half the battle when it comes to staying ahead of these types of scams.
Conclusion
This message released by the FBI highlights a very important issue faced by many smartphone users, the ever-growing risk of downloading apps with malicious intent.
Regardless of whether you are an owner of an iPhone or Android device, the message released by the FBI should be taken seriously, be careful and don’t just trust anything, keep yourself safe.
As smartphones nowadays govern all aspects of our lives, choosing one application can make a big difference.
By William Hernandez
Journalist for Vlixx Magazine, reporting on news from around the world, ensuring timely, accurate, and detailed information to keep the public informed and educated.
Sources:
Forbes: FBI Warns iPhone And Android Users—Do Not Install These Apps
Al: iPhone, Android get FBI warning: Don’t download these apps
Featured and Inset Image Courtesy of Jess A. Flickr Page – Creative Commons License
Inset Image Courtesy of Rick Wilson Flickr Page- Creative Commons License
