Mobile Banking may have taken a few steps back today as this morning, as a phishing app was discovered on the Android Marketplace. Made by developer "Droid09," the application aims to collect banking information specifically from First Tech Credit Union customers. In the release, it said:
"Please note that this attack didn’t target First Tech accounts. Accessing your First Tech account from your phone’s web browser is completely secure. If you did download the Droid09 app, please remove it from your phone and take it to your mobile provider to ensure it’s completely removed. As a reminder, we don’t currently have an app for the Android phone." Here's the rest of the release.
What we previously loved about Google's Android Marketplace relative to the iPhone App Store is the significantly shorter approval time. What could take weeks to get approved by Apple could potentially take just a few hours on Android's Marketplace. But now with this debacle, many are starting to realize the concern and question the review process. Is this just a fluke, or is this an example of more to come? This has likely thrown a wrench into Google's machine, as they're likely scrambling to fix/address the issue as quickly as possible. Consumer confidence has definitely been a priority for Apple, as this has not really been a problem for them and the App Store. No matter how good a few applications are, if there is a chance that the application that you're downloading may use your information for malicious purposes, how more unlikely are you to download the application, let alone pay for it?
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