Downloadable applications from trusted sites or through some 3rd party sites can present many types of security issues for mobile devices. “Malicious apps” may look fine on a download site, but they are specifically designed to commit fraud. Even some legitimate software can be exploited for fraudulent purposes.

Application-based threats generally fit into one or more of the following categories: 

• Malwareis software that performs malicious actions while installed on your phone. It can add up charges to services utilized without user’s knowledge, send unsolicited messages to the contact list, or give an attacker control over device.
• Spywareis designed to collect or use private data without knowledge or approval of user. Data commonly targeted by spyware includes phone call history, text messages, user location, browser history, contact list, email, and private  This stolen information could be used for identity theft or financial fraud.
• Privacy Threatsmay be caused by applications that are not necessarily malicious, but gather or use sensitive information (e.g., location, contact lists, personally identifiable information) more than required, to perform their function.
• Vulnerableapplications are apps that contain flaws which can be exploited for malicious purposes. Such vulnerabilities allow an attacker to access sensitive information, perform undesirable actions, stop a service from functioning correctly, or download apps to your device without your knowledge.