In today’s world, where the internet is the king, mobile users are on the rise. And the increasing number of mobile devices is making it a potential target for scammers. Even scammers have evolved so much that they have learned new tricks to trap victims into giving up their data. As per the recent RescueTime statistics, an average person spends over 3 hours a day on their mobile devices, and another study shows that 35 applications are installed on every device.
In our one-to-one meeting with Raghib Khan, the owner of the app and web development arm of RNF Technologies– Phonato Studios– we got an opportunity to delve into the details of why scammers are targeting mobile application development companies and their users.
Let’s check out the five reasons why mobile applications are succumbing to the scam industry.
- Applications Act As Gold Mine For Scammers
Applications are known to keep incredibly sensitive details of the users, like their social security numbers, payment details, and addresses. All this essential information makes up a treasure trove for the tricksters. They steal the information to sell the account, make scamming transactions, or sometimes use users’ PII or Personally Identifiable Information to apply for loans.
- The Key To Success Is Speed & Ease– Mobile Applications Stay True To That
Mobile apps offer additional ease via functions like one-click transactions. Unfortunately, practical features frequently make fraud much more straightforward when using a product more accessible. In this world, dogs fight dogs. As per a report by dimension data, there is intense competition for consumers’ attention, and 84 percent of businesses that improve their user experience see a boost in income.
- The Internet Provides A New Battleground For Scammers
Raghib Khan, when asked about why scams are on the rise with the rise in the popularity of the Internet, stated that we’d had computers and the internet for a very long time. However, native app environments are relatively young in the big picture. Mobile is the new arena for fraudsters because there is no constant app development and security standard, unlike web pages with standardized protocols.
- Device Fingerprints Can Be Altered Easily
A device fingerprint gives each gadget a distinct identity, much as human fingerprints are used to identify individuals. The issue is that device fingerprints can be easily changed. There are countless ways to alter a device’s fingerprint, ranging from sophisticated technologies to straightforward software and app upgrades. This makes precise device identification for preventing scams very challenging.
- Scammy Applications Are More Rampant In App Stores
Although it is no surprise that fraudulent apps frequently originate from unreliable sources, you might be startled to realize that they also find their way into legitimate app stores. Fun apps can be surprisingly harmful because ad actors can access users’ data without the consent or knowledge of the victim, thanks to the prevalence of fake apps.
It’s Time To Prevent Mobile Application Scams
Raghib Khan, the co-founder of IT & Consulting services company, RNF Technologies, says that it is high time we adopt a better approach to handling these erratic activities prevalent in the mobile world. Further, he mentioned that to fight the scam from its root, it is necessary to embrace actionable device intelligence tools.
The first to fight the scam will be to be conscious and aware of the matter; if businesses want to prevent their hard-earned money from going in vain. They must stay one step ahead of the cybercriminals, which can be achieved only if you are aware of how scammers are using mobile applications and using it to rob businesses of their money.
