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Thieves Want Your Wallet; Cyber Thieves Want Your Mobile Wallet

Thieves Want Your Wallet

There was a time when one had to keep wallets tucked away safely in overcoat pockets and hidden between stealth folds in bags and purses. Thanks to the mobile revolution, all these safety maneuvers aren’t needed the way they used to be.

Unfortunately, this is not to say that crime has gone down, if anything, it’s gotten easier and thieves have found new playgrounds to refine their pilfering skills in.

You see mobiles are the latest targets for pick pockets and thieves, and not just for the device itself. Your mobile is precious because it contains a large amount of personal data and of course was bought with your hard earned money.

Instead of snatching the actual device though, cyber equipped pick pockets are designing computer programs which end up stealing money from smartphones.

It’s That Easy

One of the most recent cases of such an incident seem to be stemming from malware hosted on a Russian website. Users can actually sign up on it and with a few simple clicks create their own personalized malware, which starts from picking a group of people to target and then ends with a web address to set the creation loose.

Now all of this is mere child’s play, the actual tough part arises when it comes to spamming and getting enough users to visit the chosen web address. What happens when one does log onto such a site you may be wondering?

Well those who are unfortunate enough to do so usually end up getting accessed by a code which plunders your SMS balance if you use premium rate text services.

Since most people have their mobile phones linked up by payment plans, removing cash becomes a lot simpler than if the same transaction were taking place through PC. According to LookOut, 70% of mobile scams attempt to make money through your phones premium rate charges.

Budding Trends

Unfortunately sites like these are becoming quick fixes for anyone who is in the mood of setting up a rowdy past time if nothing else. The reason why many of these scams end up being successful are the sheer quantity of people involved.

So many of us use mobiles as digital wallets, we no longer carry cash, we use apps to pay bills, conduct business, and shop directly through PayPal accounts.

Sites that offer ways to create ‘do it yourself’ malware are really just setting up shop themselves, luring people into means for easy scams. When you consider the possibility of millions of people with access to sites like these, the projected crime rates are startling to say the least.

Previously, what were known as ‘crimeware kits’ were actually how to programs for starter hackers that allowed them to come up with their own viruses and malware to target PC users. The Russian website discovery indicates how this trend is now shifting to mobile targets.

Currently, none of the sites or kits which boast of two minute malware are all that fancy shmancy or sophisticated in any way, making them easily identifiable. However, this is the current situation. In all likelihood, these sort of mobile money pick pockets will refine their techniques and the malware they use will become more effective.

So how is one to fight off these annoying spammers and pick pockets from digging into our mobile wallets? Well one answer is that we stick to official marketplaces when dealing with apps.

According to experts from a range of security firms, this should bring down the chances of getting hit by malware. Clicking on links which are sent out from anonymous or strange looking ids is a major no-no.

Natalia David is a known figure in the field of technology writing. She has written a lot of articles on cell phone monitoring and call tracking software which has earned a great fan following. You can also follow her on twitter @NataliaDavid4

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Click Here to Leave a Comment Below 8 comments
Srikanth - April 19, 2013

Hi Natalia David,
Yes,Now a days cyber crimes has gone viral on web. we need to keep track of all devices which he use daily in our life. This post was bit different total credits to the author. !!
~Srikanth

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Felix Lee - April 22, 2013

As much as how app stores are modifying and offering apps every now and then, the thieves also are doing the same. We should all be cautious and responsible enough with using our phones especially with financial transactions and always be aware of the latest updates regarding these crimes so we can avoid being a victim ourselves.

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lee - April 23, 2013

Hi
There is a trend here that has to be stamped on hard now as it is getting out of control. For some reason the authorities are seeing these crimes as a lesser crime than a burglar going in to someones house and stealing there belongings. To me though cyber crimes should be dealt with harshly and some examples should be made of some of these criminals when caught to act as a deterrent otherwise things are just going to get worse.

lee

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Vianney - April 25, 2013

Let us not give those thieves opportunity to get what they want. First, we got what we have through hard works, plus we are only giving them ideas that what they do is fine and they can just get away with it. Thanks!

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Kristine - April 28, 2013

And I won’t let them. Let us not let those people ruin what we’ve worked hard for. This post is so useful. Thank you so much! :))

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Emilia - April 28, 2013

This is now a big scam on the internet, some downloadable sites have this. I have been a victim once, and it is very annoying and at the same time, irritating. Thanks for the information you have given to us.

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Kuldeep - April 28, 2013

Yes, as you said, we should always stay to the official market place for the apps. That would prove to be really safe to us.

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Arianne - May 13, 2013

I will never let them get mine! Thank you for sharing these precautionary tips with us. I will keep these in mind and in my heart. Bookmarked! 🙂

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