Financial security for smartphone users through CYBX's insurance plan: coverage up to ₹10 lakh for financial scam protection.
In the rapidly evolving digital landscape of India, where more people are using UPI payments, storing personal documents on their phones, and working remotely, the cybersecurity market is heating up. Recognising this need, homegrown cybersecurity company 63 SATS has launched a smartphone security app named CYBX.
What Makes CYBX Stand Out?
CYBX is currently available on Android and iOS and is in active use, with new features in development. One of the key features under development is AI-driven behavioral analysis for detecting new malware.
The app offers a range of features designed to protect users from various cyber threats. These include real-time malware scanning, QR code verification, anti-phishing protection, and encrypted calling with recording prevention features.
Advanced Mobile Threat Defense
CYBX continuously scans for malware, checks app behavior in real-time, and blocks phishing attempts. This proactive approach helps prevent financial scams by identifying malicious apps and suspicious code behavior before they cause harm.
QR Code Verification
The app scans and verifies QR codes to block fake or tampered codes, which are often used for payment scams. This feature significantly reduces the risk of financial fraud through QR code phishing.
Anti-Phishing Protection
CYBX filters out malicious links sent via SMS, email, or chat apps, preventing users from accessing harmful websites or spyware that could lead to identity theft and financial loss.
Cybersecurity Insurance
The app provides financial protection against digital fraud and cyber risks. Users are covered with an insurance worth ₹10 lakh, offering peace of mind in case of cyber-related financial losses.
Secure Encrypted Voice Calls
While not directly related to financial protection, CYBX's end-to-end encrypted voice calls ensure that conversations remain private, reducing the risk of sensitive information being intercepted.
How Insurance Works
- Coverage: CYBX offers a coverage of ₹10 lakh, which is designed to compensate users for financial losses due to cyber scams or identity theft.
- Protection Scope: The insurance is intended to mitigate financial risks associated with cyber threats, providing users with a safety net against unexpected financial losses resulting from cybercrimes.
Overall, CYBX's combination of advanced security features and financial protection through insurance provides users with comprehensive defense against a wide range of cyber threats.
CYBX's focus on accessibility is significant in India, where smartphone adoption has outpaced digital literacy. The app is designed for accessibility, catering to both seasoned professionals and first-time smartphone owners, with minimal technical language, clear instructions, and alerts written in plain, localized terms.
According to various industry estimates, India is now one of the top countries in terms of mobile-based fraud attempts. CYBX functions as a mobile threat defense platform, continuously scanning for malware, checking app behavior in real-time, blocking phishing attempts, and verifying QR codes.
Neehar Pathare, CEO of 63 SATS, describes CYBX as a "sniper" that sits low, waiting for threats, then takes action when they arrive. The insurance component is significant in cybersecurity as it covers losses from various cybercrimes. CYBX's integrated insurance covers a wide range of digital harms, including direct financial fraud, identity theft, and cyberbullying.
Pathare views AI as essential in staying ahead of cybercriminals, as static databases can only protect against known threats, and the threats of tomorrow will not be in any database yet. CYBX's verified call screening uses an updated database to tell users if the person calling is also protected under CYBX, potentially creating an ecosystem.
The simple insurance claims process is initiated directly from the app, with CYBX's backend team collecting relevant digital forensics to help validate claims and speed up settlement. This feature may resonate with a wide audience, particularly those who have already been victims of scams.
In conclusion, CYBX offers a robust solution to the growing cybersecurity concerns in India. With its advanced features, built-in cyber insurance, and user-friendly interface, it provides a comprehensive defense against a wide range of cyber threats, making it an essential tool for smartphone users in today's digital age.
Smartphones, gadgets, and technology users in India who are concerned about cybersecurity can find solace in the smartphone security app CYBX, launched by homegrown cybersecurity company 63 SATS. As more people use their smartphones for UPI payments, storing personal documents, and working remotely, CYBX's advanced mobile threat defense, QR code verification, anti-phishing protection, and encrypted calls provide a robust defense against cyber threats. Moreover, CYBX's integrated insurance offers financial protection against digital fraud and cyber risks, covering users for financial losses due to cybercrimes up to ₹10 lakh.
