Fraudsters Gaining Access to Users Mobile Devices to Commit Bank Fraud

Fraudsters Gaining Access to Users Mobile Devices to Commit Bank Fraud
With the advent of Unified Payment Services (UPI), the idea of sending money from one bank account to the other without having to top up the sum in the mobile wallet has become a reality. However, with new means of transactions coming up and widening of the horizon of banking operations, there is an even enhanced possibility of bank frauds. Hackers have been continuously coming up with new ways of bypassing security.
ICICI Bank reported that in order to gain remote access of smartphones of various users, cybercriminals trick users into downloading ‘AnyDesk’, an application available on App Store as well as Play store.
Once the user downloads the app, a nine-digit app code is generated on his mobile device which they are then asked to share with the criminals. After receiving the code, fraudster enters the code onto his mobile and then asks the user to grant him certain permissions. Now, once the criminal gets the permissions, he can access the user’s device with ease.
Users are advised to verify and then install the original UPI app and payment wallets from Apple Store and Google Play Store owned by authenticated companies. Avoid downloading applications from suspicious or unknown sources and consider reading reviews prior to going for the download.
Furthermore, while granting permissions on making the download, one should be highly alert and pay extra attention to the details. Banks suggest having your e-mail ID registered and verified in order to be notified of any illegal action taken on your account.
Other safety tips include getting your SIM card blocked instantly if you happen to misplace your mobile device and logging out of your bank account from the web browser. Lastly, customers should always keep a track of their banking transactions which are sent through SMS, it will allow them to take note of any fraudulent transaction and report it to the bank.  

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