RBI detects new m-banking fraud

RBI detects new m-banking fraud

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Fraudsters could break into your bank accounts and e-wallets by misusing remote control apps. The modus operandi: Lure people to download programs such as AnyDesk and get them to share the nine-digit code such apps generate, the RBI said in a notification. “This gives the fraudsters access to the victim’s device, which enables them to carry out transactions through the victim’s bank accounts or e-wallets,” the central bank said. It has asked banks and mobile wallet players to run user campaigns to spread awareness.

It's a tad unfair that the RBI is referring to just one remote control app in its notification on preventing a new-age banking fraud. AnyDesk Software GmbH has been around for a long time and has several positive use cases. While the banking regulator is being proactive in sensitising people to emerging security threats, the notification makes it sound as if AnyDesk is hand-in-glove with scammers, which is indeed not the case. The notification leaves us with more questions than answers I feel.

It's a tad unfair that the RBI is referring to just one remote control app in its notification on preventing a new-age banking fraud. AnyDesk Software GmbH has been around for a long time and has several positive use cases. While the banking regulator is being proactive in sensitising people to emerging security threats, the notification makes it sound as if AnyDesk is hand-in-glove with scammers, which is indeed not the case. The notification leaves us with more questions than answers I feel.

One should always be wary of permissions requested by the apps. The moment you unknowingly provide SMS access to an app, it theoretically knows all your transaction OTPs.