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People are relying more on using banking apps to do transaction and it is
a chance for the fraudster to steal bank customer’s money through banking apps.
Fraudster also creates a fake banking apps to steal personal details and use
the phone number to access victim financial information. The malware which
create by the fraudster will attack the victim banking apps to get personal
details and misuse it. To prevent becoming a victim people must download the
banking apps from the official channel and be aware of the message send by SMS
which ask for bank account number. In addition, the banker can put in six or 4
digit authentication PIN for every customer and auto block the customer who not
use the apps for a specific time. It’s a way to protect customer’s privacy. (vishwanathan, 2016)
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By: Ivan Tang
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