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SBI, ICICI Bank, Axis Bank, PNB, AU Small Finance Bank warned customers about banking fraud. Fraudsters are cheating users by sending APK files. Banks have warned and told ways to avoid such fraud.

As people turn more towards digital banking, fraudsters are constantly finding new ways to cheat them. Cases of banking scams are on the rise, prompting many banks, including the State Bank of India (SBI), to caution their customers about these fraudulent activities. SBI recently issued a warning about scams involving distribution of Android application packages (APK files) to users under the guise of redeeming SBI reward points and the precautions to be taken.

SBI, ICICI Bank, Axis Bank, PNB, AU Small Finance Banks have issued warnings to customers about fraud through APK files. SBI has posted on social media that it is being observed that fraudsters are sending APK files and messages to customers on SMS or WhatsApp in the name of redeeming SBI reward points. SBI said that the bank never sends links of APK files to its customers on such messages or WhatsApp. Customers should not click on any such link or download unknown files. 

Hackers get access through APK file 

• According to the website of AU Small Finance Bank, hackers first get the victims to install an APK file on their mobile device. For which the hackers adopt social engineering tactics. When the victim clicks on the APK file and installs it, he may receive several warning messages highlighting the dangers of installing apps from unknown sources. 
• When the victim clicks and installs the APK file, he is asked to access many features on the app, such as camera, microphone, location, contacts, SMS, etc. 
• After APK file installation the hacker receives a connection to his hacking device. After this the hacker gets access and control over the victim's device. 

How to avoid APK file fraud 

1. The APK file will not appear valid and its size will be only a few KB.
2. Once installed, the APK demands access to a variety of things including the camera, microphone, GPS, contacts, SMS and more. If the user has installed any such file, it should be deleted immediately. 
3. Users should follow Google Play Store's warnings that installing apps from unverified sources may harm their devices.
4. So reboot the phone regularly and remove any background apps.
5. If antivirus software is installed on the victim's phone, such APK files are immediately identified as dangerous.