security question/concern regarding Droid Market

[droidavie]

Once we install third party apps from the market, we are giving these developers a lot of personal information. Is it possible for a developer to create a program that collects sensitive data (e.g. bank account information, passwords, etc.) from our browsing experience even though the application is unrelated (maybe a flashlight, or sms app)?

I am concerned as to how google is checking this with all these apps...

Furthermore what if I download an app that doesn't come from the Market? Can a hacker edit the code for the original app and create their own app that collects your sensitive information?

 

[ShowTime]

Yes, it's possible. There's actually another thread floating around the boards somewhere that talks about an app that was spying on bank account info.

I am concerned as to how google is checking this with all these apps...

As of right now, Google really isn't doing much in the way of supervision or regulation of the app market. Best thing you can do is research any app you're considering getting and just make your choices carefully.

 

[Techenigma]

Best school of thought here is the same as with your personal information anywhere. Use common sense, and be vigilant. Also try to dedicate a specific card only to be used for your online purchases (Android Market, or anywhere at all) and be sure to monitor that card for any and all suspicious transactions.