Instant Loan Apps: Key Things to Keep in Mind to Avoid Loan Frauds

For Android users, installing applications from Google Play, and Google Play only, is the wise choice. With its strong safety rules, official app monitoring, plentiful user reviews, and security researcher scrutiny, Android’s official store tends to be a safe place for downloading apps. Even when malware does make it to Google Play, it is quickly identified and removed.

Android device owners do, however, also have the option to download and install apps from third-party sources. But does the freedom outweigh the danger?

Why Do Apps Only Come from the Play Store by Default?

The easy answer is to say that this is how Google makes money off Android, which it provides as an open-source operating system for manufacturers and custom ROM makers to do with what they please. Google gets 15% (It was 30% Earlier) of the money when you buy something from the Play Store.

But there’s much more to this decision than profit motive. Pumping all software from a single, trusted source is a way to keep devices secure. Developers create apps and upload them to the Play Store. Google checks them for viruses, malware, and anything else the company would consider malicious. Then it allows that app and updates to pass through to users. Out of the box, devices can only get affected by bad apps if the code manages to bypass Google’s safeguards.

On the one hand, having the ability to shop outside of the Google Play store can be quite useful; not every app is available there. On the other hand, that freedom comes with an increased risk of infection, because outside of Google Play, apps lose Google’s quality and safety oversight. This situation has proven difficulty for many people.

In recent days people are complaining about getting cheated by apps like Koko-Loan, Ocean Rupee, Life Wallet, Maloo Wallet, Elephant Cash, Box Cash, Dutta Rupee  (which was removed from Play Store recently & some of them are already busted by Police). As per a report by RBI, there are ~81 Indian loan apps & there are ~600 illegal loan apps in total. Google obviously verifies if the app has malware but not the tricky mechanism, they use to contact you & scam you. So, ask yourself if you allowed them to cheat yourself by doing the following things or was it Google?

1. Installing app from different source
2. Giving permission to the app to read SMS, Call, Contacts
3. Sharing all your personal information like name, address, Aadhar / other valid ID Card to unknown number
4. Installing app without checking reviews / ratings properly

How to safely download an app that’s not on Google Play?

What if a program you need is not available in the official store, but you still need to install it?

• Search for similar apps: Try looking for alternatives in the official store. Maybe there is an app on Google Play with functions that suit your needs.
• Scan the file before installing: Even if you can’t do without a third-party source, don’t rush to change your settings. First, download the installation file, and before launching it, scan it with your mobile antivirus solution or upload it to virustotal.com to scan the file across multiple antivirus at single place.
• Check permissions: Consider the list of permissions the app requests during installation. If a program demands too much, try to find something similar with more modest requests. For example, calculator app doesn’t require any permission, but some calculator apps do ask permission to access contacts, SMS, Call-log. Wake up, it’s a trap.
• Disable installation of unknown apps: Remember to change your settings back after installation app from unknown source. Don’t leave your phone open to malware!