Banking apps for mobile not secure

COIMBATORE : Be wary of banking applications that you download on your smartphones. It could be a phony. Coimbatore cyber cell received two complaints on Monday from victims who lost money from their accounts after they downloaded a fake Indian Overseas Bank application on their android phone. One of the complainants alleged that he had downloaded the IOB application from Google Play Store and had accessed his account and also carried out a transaction. However, after following all the procedures, the application declared that the transaction was incomplete. The complainant was shocked when he received a mobile alert stating that '1,00,000 had been debited from his account, but it had not been credited to the account he was attempting to transfer the funds to. The homepage of the application was so genuine with the IOB logo that the victims fell prey, said a cop in the city cyber cell. IOB, however, shrugged off any responsibility and posted a warning note on its site asking people not to indulge in transactions by downloading apps.