Android devices have been said to be less secure than iPhone for years. This is due to both APK installation and the Play Store having fewer rules. In 2023, fake finance and banking apps published on the Play Store broke records.
Fraudulent financial and banking apps removed from Play Store
The Indian government worked with Google to prevent fraud attempts on Android devices. Accordingly, more than 2200 fraudulent apps have been deleted from the Play Store since last semester. Hundreds of these apps were targeting financial accounts.
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According to details shared by the Indian Finance Ministry, Google has conducted a review of nearly 4,000 financial apps last year and suspended or removed more than 2,500 such apps from the Play Store.
In the period between September and August, Google announced that it removed more than 2200 credit apps. This brings the number of rogue apps blocked for the year to over 4700.
Google is also said to be reviewing its policies on financial apps. Only regulated organizations or their partners will be allowed to publish apps on the Play Store. Thus, strict measures were taken in financial and banking applications.
Google said it actively analyzes banking practices, working with government agencies around the world. It said it also facilitates the reporting of cybercrimes through special portals and hotlines.
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