Crypto

US Senate pressures Apple and Google to protect their stores from crypto scams

A US senator is pressuring Apple and Google over their defenses against fraudulent crypto apps.

Cryptocurrency fraud is a very serious problem today, and the senator wants to make sure that app stores are doing everything they can to combat it. Sherrod Brown, Ohio Senator in the U.S. Congress, sent letters to the CEOs of Apple and Google asking them to explain existing crypto app fraud protections.

US senator puts pressure on Apple and Google

Sherrod Brown’s intentions include getting detailed information about app review and reporting processes, alerts sent to users in case of fraudulent activity, as well as coordinating with competing stores and tracking down apps that become phishing.

Giants such as Apple and Google have been contacted about this but have not been spoken to yet. Sherrod Brown is giving leaders until August 10 to answer these various questions.

regarding their safeguards against fraudulent crypto applications

The two technology companies provide a number of elements against their malicious cryptographic applications. Apple’s App Store policies expressly prohibit fraud, including “bait and switch” tactics. Google is well aware of its Play Store policies, but also, of course, bans apps that allow any illegal activity or “dishonest behavior.” The two tech giants allow their users to report any suspicious apps. However, they do not send direct alerts when fraud is detected and are not known to actively scan apps in case they trigger phishing attacks.

Regardless of the point of view, Sherrod Brow believes that effective security measures are important. The FBI recently warned that cryptocurrency app scams have already resulted in losses of around $42.7 million. According to the US senator, it is “mandatory” that app stores protect investors from such harm.

However, there is no guarantee that these requests will be implemented, much less in a law that will force the introduction of any more stringent anti-fraud systems. However, this request may be intended to clarify the positions of Apple and Google on this issue, and this leads to increased pressure to present real action. In any case, this serves as a reminder that having an app on the App Store or Google Play is no guarantee of trust.

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