standard Why Android Payment Apps Are Risky

Android Phones and Tablets are great.  But you have to remember that their platform is much more open than Apple’s.  For this reason any of their apps are more suspect to having Malware in them.

So it’s no surprise that security companies are very concerned with payments apps using the android platform.

Be careful if you use the apps.  Do not put any of your bank account information into them.

They can be hacked or the app itself can contain malware.

You can read more about it here:

 

Eleven percent of the payment apps available globally for Android phones and tablets contain malware or suspicious binaries, according to RiskIQ, a company that helps organizations maintain the integrity of websites. It found that 40,000 of the 350,000 apps which reference banking had security issues and another 40,000 contained dangerous permissions.

Mobile banking presents a lucrative opportunity for criminals to commit fraud, said Elias Manousos, CEO of RiskIQ.

One of the easiest ways to steal a victims login and other personal information is using malware and apps with excessive permissions. These findings show that criminals are using look-a-like banking apps to distribute malware and capture data on the device in order to commit crimes.

Every country has at least one Android app store and most device makers have a store as well. RiskIQ works with banks to identify apps that can cause problems for their customers, he said. Apple operates a closed ecosystem and checks apps before they go up in its one official App Store, so it doesnt face the security problems Android does.

 

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