On June 10th, the FBI issued a public service announcement warning consumers and
brands alike that bad actors are actively targeting mobile banking apps.
Mobile banking has surged by 50 percent since the start of the pandemic, according to the announcement. Bad actors have been quick to jump on this trend and malicious activities related to banking apps have spiked as a result.
In the announcement, the FBI warns:
“With city, state, and local governments urging or mandating social distancing, Americans have become more willing to use mobile banking as an alternative to physically visiting branch locations. The FBI expects cyber actors to attempt to exploit new mobile banking customers using a variety of techniques, including app-based banking trojans and fake banking apps.”
Our experience at Appdetex reinforces the FBI’s warning. Bad actors are incredibly savvy when it comes to tricking unsuspecting consumers into downloading inauthentic apps, often using not only trademarked images and logos, but also content and original source code. These apps may contain malicious code or seek out unnecessary permissions and can be used to clone accounts, access sensitive information, expose photos, or other personal details stored on phones.
Inauthentic apps are a serious threat to any brand. Just one fake app hiding behind branded intellectual property can damage a brand’s reputation and seriously impact its ability to advance mobile commerce goals and revenue. During these uncertain times, it’s critical that brands ensure that their consumers have safe and authentic experiences with their apps by incorporating mobile app brand protection into their overall brand protection strategy.
To learn more, we’ve prepared a complimentary guide that outlines proven strategies to fight infringement in app stores.
