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    ​Fake APP: Harm the Industry Most with Lowest Costs of Fraud!

    Abstract:Numerous users have disclosed recently that they were swindled by fake APPs

      Numerous users have disclosed recently that they were swindled by fake APPs. According to some reports, this kind of fraud has been characterized by staggering sophistication and accuracy, hindering traders in their efforts to distinguish the true from the false. Hidden tricks played in these scams are unveiled herein.

      Extremely low costs of fraud

      Some illegal forex platforms induce investors to invest in the name of financial APPs whereas all information on the APP-related enterprises, including addresses, legal persons, and projects, is fake.

      Illegal forex brokers can just change their domain names and APPs to restart their businesses in a breeze following the shutdown of their platforms on the heels of exposure. As for the change in domain names, it only costs them around one dollar.

      Harms caused by fake APPs

      In addition to the trick above-mentioned, this kind of APPs harms traders in the following ways:

    •   Fake APPs maliciously have access to users phones and infringe their privacy to conduct scams via SMS.

    •   Scammers exploit users via phone charges even embezzle their savings.

    •   Users can be unknowingly charged amid visiting fake ads out of curiosity which are orchestrated by illegal APPs.

      How to protect yourself

      Given the extremely low costs of fake APPs and the difficulty in eradicating them, the following tips are sincerely recommended to you:

    •   Please dont be gullible as even famous APP stores cannot be fully immune to scammers.

    •   Please pay attention to the conformity between software functions and permissions they need.

    •   Please search qualifications and reputation of platforms via WikiFX. (bit.ly/wikifxIN)

    •   Please dont believe in gaining handsome profits in a breeze!

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