As a society, we’ve become increasingly reliant on our smartphones, laptops and tablets to perform everyday tasks, including banking and online shopping. It’s no surprise that cybercriminals, always ready to follow the money, are right there with us. With this in mind, we need to be aware of the dangers in performing these tasks and how they can affect us.
Rogue app stores —offering versions of popular apps that have been altered in such a way that customers can’t tell the difference — are becoming a serious threat to mobile banking. The compromised apps, once downloaded, can steal online credentials and install malware, among other unwelcome activities.
Jonathan Shiflet, cyber security manager for PNC Bank says, “These stores often look legitimate because they steal the certificates of approved app stores to fool mobile devices and security software. They lure people in by offering free versions of popular apps. It’s a case of ‘if it looks too good to be true, it probably is.”
A bank can’t know everything that is on an individual’s smartphone, but PNC is taking steps to help protect employees and customers from rogue apps, such as:
Fraudsters are likely to devote even more time to defeating mobile banking security measures as the popularity of these services rise, so it’s important to stay vigilant and informed.
Learn more about how PNC can help prevent, detect and respond to fraud »
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