Nirmala Sitharaman the finance minister declared that Google Play Store would only permit apps published by regulated entities or those collaborating with regulated entities. The government, in response to Parliament queries, disclosed that Google scrutinized approximately 3,500 to 4,000 loan lending apps between April 2021 and July 2022.
Following up Google suspends 2,500 Fraudulent apps on Play Store
When addressing measures to counter the risks associated with fraudulent loan apps, Sitharaman highlighted the government’s continuous collaboration with the Reserve Bank of India (RBI) and other relevant regulators. The Financial Stability and Development Council, chaired by the finance minister, consistently addresses and oversees the issue during its meetings.
Google suspends
Sitharaman emphasized Google‘s revised policy for enforcing loan lending apps on the Play Store. According to the updated policy, only apps published by regulated entities or those collaborating with regulated entities are allowed on the platform.
Furthermore, she mentioned the role of the Indian Cyber Crime Coordination Centre (14C) under the Ministry of Home Affairs, which regularly analyzes digital lending apps. The 14C team assesses these apps based on various parameters and reports suspicious findings to the Ministry of Electronics and Information Technology for blocking.
In efforts to enhance cybersecurity and financial literacy, the RBI has implemented measures such as the electronic-banking awareness programme (e-BAAT) and various initiatives focusing on fraud awareness and financial education. These include the development of a financial education framework in schools, financial literacy week, and awareness campaigns through SMS, radio, and social media. Handbooks catering to different audiences are also being published to spread awareness about cybercrime.
Samsung Mobile: This week, the Indian government issued additional security warnings specifically aimed at users of Samsung Galaxy phones. The security advisory, released by the Indian Computer Emergency Response Team (CERT-In), underscores various vulnerabilities impacting millions of Samsung Galaxy phones, encompassing both older and newer models.
Released on December 13, the security alert classifies the issue as high-risk, emphasizing the immediate need for current Samsung users to promptly update their phone’s operating system or firmware.
As outlined in CERT’s vulnerability note, “Multiple vulnerabilities have been reported in Samsung products that could enable an attacker to circumvent implemented security restrictions, gain access to sensitive information, and execute arbitrary code on the targeted system.”
The report specifies that the vulnerable software includes Samsung mobile Android versions 11, 12, 13, and 14.
What worst can happen: Samsung mobile?
These vulnerabilities expose the device’s security weaknesses. If a cyber attacker exploits these issues, they could:
Steal the phone’s secret code (SIM PIN).
Commandeer the phone with elevated privileges.
Access private AR Emoji files.
Manipulate the clock on the Knox Guard lock (castle gate).
Probe the phone’s files, accessing arbitrary files.
Extract sensitive information.
Control the phone like a puppet, executing arbitrary code.
Take complete control of the phone, compromising the targeted system.
Guidelines for Samsung smartphone users
Owners of Samsung mobile phones are strongly advised to promptly update their device’s operating system (OS) and firmware, as suggested by the reports. Failure to do so may render Samsung models vulnerable to potential threats from hackers. Neglecting system updates could provide hackers with an opportunity to bypass device security and gain unauthorized access to sensitive data. Samsung has released a solution for these vulnerabilities, and users are encouraged to install it promptly.
“Shield Your Smartphone: Defend Against Hacks and Breaches with These Clever Strategies!”
Use Strong Passwords or Biometrics: Set a strong password, PIN, or use biometric authentication (like fingerprint or face recognition) to secure access to your phone.
Keep Software Updated: Regularly update your phone’s operating system and applications to patch security vulnerabilities and benefit from the latest security features.
Install Security Apps: Consider using reputable antivirus and security apps that can help protect your phone from malware, phishing, and other online threats.
Be Cautious with App Downloads: Only download apps from official app stores, such as Google Play or the Apple App Store. Avoid downloading apps from third-party sources, as they may contain malicious software.
Review App Permissions: Check and manage the permissions granted to each app. Disable unnecessary permissions to limit the information apps can access on your phone.
Use a Virtual Private Network (VPN): When connecting to public Wi-Fi networks, use a VPN to encrypt your internet connection and protect your data from potential eavesdropping.
Enable Two-Factor Authentication (2FA): Enable 2FA whenever possible to add an extra layer of security. This typically involves receiving a code on another device or through SMS in addition to entering your password.
Regularly Back Up Your Data: Back up your phone regularly to ensure that you can recover your data in case of a security incident or device loss.
Avoid Clicking on Suspicious Links: Be cautious about clicking on links in emails, text messages, or on websites, especially if they seem suspicious. Phishing attacks often use deceptive links to compromise devices.
Review and Monitor Accounts: Regularly review your accounts for any suspicious activity. If you notice anything unusual, take immediate action to secure your accounts.
Use Secure Wi-Fi Networks: Avoid connecting to open or unsecured Wi-Fi networks. When possible, use a password-protected and encrypted Wi-Fi connection.
Implement Remote Tracking and Wiping: Enable remote tracking and wiping features on your phone. In case your phone is lost or stolen, you can track its location and remotely erase your data.
By following these practices, you can enhance the security of your phone and reduce the risk of hacks and compromises.
