Currently, there are a series of applications (Apps) on mobile phones that are floating and of unknown origin. When installing, users need to be careful not to install apps/malware on the phone. Sometimes floating apps of unknown origin are the tools of scammers. Continuing the series of articles to prevent online fraud, Eye of the storm Please warn users about scams via phone App.
In general, the scam apps hit the user’s “light work, high salary” mentality. And the operating model of applications with the label: “make money online is easy”, “invest a capital of four words”, etc.
It is not difficult to identify scam tricks through the phone App. Users should pay attention to the content and origin of the website as well as be aware of whether they have been included in the multi-level form or not.
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Sign of scam via phone app #1: Not on the app store
Applications that are accused of fraud, usually do not appear on the app stores or CH Play. This is the first sign for the most recognizable user.
To install, users are required to download the .apk file with their Android device. Or use a separate profile on iOS to install apps on iPhone. Some scammers even add a web version for users to use.
Not to mention the security, installing files from the outside has many potential risks of getting malicious code for the device. According to experts, fraudulent applications often cannot be put on the app store because of policy violations. Therefore, when users download an unofficial application, there is always a risk of harm.
Sign of scam via mobile app #2: Manual deposit method
In general, scams via the phone App will require a deposit to transact or perform a task. And these deposit methods will be extremely manual. Instead of having built-in deposit/withdrawal tools, users are often required to transfer funds to some personal account of the “exchange owner”.
With this method, users can lose money if the syntax is wrong. In addition, in the case of being scammed, it will be difficult to trace the above personal accounts. Because the majority of scammers today always take advantage of the bank’s loopholes to create fake accounts.
Sign of scam via mobile app #3: Multi-level model
With the majority of fraudulent applications in the form of multi-level, users cannot create an account by themselves. When using, it is necessary to have a referral code from another person. The referrer (F0) also gets incentives or commissions from the referral’s deposit (F1). Some applications also allow receiving rewards from the amount of users F4, F5.
Phishing apps often use this multi-level model for user development. At the same time, he promises that if he introduces many people, he will have more money without doing anything. This is also one of the signs of fraud, because the system does not create value, but uses the money of the latter to pay the former. When prolonged, it will lead to “floor collapse”, as is the case with fraudulent exchanges such as Coolcat, Pchome, etc.
Sign of scam via mobile app #4: Just choose “up” or “down”
Most phone app scams through multi-level models use market volatility to gain user trust. It can chart the price of some items such as: Bitcoin, gold, foreign currency… From there, players can predict their investment level.
The interface of these Apps is similar to that of stock exchanges or cryptocurrency. But in reality, users only need to give two choices “increase” or “decrease”. Results will be announced after 30 seconds or minutes. If the result is correct, the user will receive the money after paying the exchange fee (about 25%). If you are wrong, you will lose everything.
This is the type of investment “binary options” (BO – Binary Options). This form, though simple, has many potential risks. And if so, it is usually only used at reputable exchanges. According to experts, 30 seconds is impossible to predict the market. Also, when investing on unknown apps, the results can be faked. And this investment is similar to gambling with the loss of the user.
Above are some shares from Mat Bao to help users be more alert when listening to secret words from scam tricks via the phone App. All of them hit hard on the mindless users who want to make money. And gradually fall into the trap of scammers. So in addition to the above signs, users need to:
• Find out the origin of investment applications when deciding to join
• Do not be gullible in providing personal information or transferring money
• Resolutely refuse the forms of “referral code”, “member invitation code”, etc. It is a visible sign of multi-level form.
Please follow our Cyberattack Prevention topic articles at our Mat Bao Wiki. For a civilized and healthy Internet-using world.
Source: Eye of Storm synthetic