Users usually don’t realize which app poses danger and which doesn’t, while skimming through the Google Play Store or Apple’s App Store. Since there is no factor that can be particularly observed in order to understand which app is fraudulent by nature and which isn’t, it can become quite difficult to tackle these problems. However, thanks to the latest initiative by the Australian Securities and Investments Commission (ASIC), hundreds of apps that held the potential of wiping off the users’ of their money, have been exposed and even further eliminated from the online application stores. It has been discovered that these apps are pretty dangerous by nature, and had been scamming users into numerous schemes since months.


What reports have to say

ASIC recently took to the online platform to publish a report that detailed out their months of investigation into this matter. According to a report by ASIC, the key researchers who were a part of the investigation primarily focused their attention on binary options trading – which essentially encouraged investors to indulge in betting. The potential preys were asked to take a judgment on whether a certain share will rise or fall, over a span of next couple of months. While, there are many applications that are licensed to legitimately carry out these binary proceedings, roughly 330 applications out of the total were found to be fake by nature.

The results were shocking and not only were these apps completely eliminated from Play Stores but the Cupertino-based technology giant Apple even went ahead to implement a couple of changes to its online stores’ developer guidelines as well.

Apps removed from Apple App Store

Apple has separately been on a spree to remove the majority of the applications from its Apple App Store since the past couple of weeks. Just last week, the firm made the headlines for removing a host of VPN apps from the Chinese version of its App Store.


Online theft has grown exponentially in the recent past as well. Hackers and online criminals have managed to seep into social media platforms as well as online virtual play stores as well, as this is where most of the personal details of any user are stored these days. This has called for an urgent need for responsible technology giants to make a call regarding the same. Customers hope the problem will be solved soon. Stay tuned for more news and updates of iOS.