Apple blocks $7 billion in fraudulent transactions

WEB DESK: Apple’s latest report on fraud prevention in the App Store highlights its ongoing efforts to protect users from scams and security threats.

In 2023 alone, Apple thwarted over $1.8 billion in fraudulent transactions, contributing to a total prevention of $7 billion since 2020.

Notable actions include blocking 14 million stolen credit cards and banning 3.3 million accounts. Over 1.7 million apps were rejected for not meeting privacy and security standards, while 118,000 developer accounts were terminated.

Apple intensified efforts to prevent fraudulent account creation, resulting in fewer account terminations.

The company also detected and blocked 153 million fraudulent customer accounts and terminated 374 million developer and customer accounts.

Notably, 47,000 illegitimate apps were blocked on pirate platforms, and 3.8 million attempts to install illicitly distributed apps were stopped. The app review team evaluated 6.9 million submissions and aided 192,000 developers in publishing their first apps.

Apple addressed deceptive app practices, such as apps initially appearing harmless but later transforming into platforms for illegal activities.

It also removed financial service apps involved in social engineering schemes and delisted 40,000 apps for bait and switch tactics.

Regarding changes in the European Union allowing apps to be installed outside the App Store, Apple cautioned users about the risks, highlighting the lack of content checks.

Despite alternative distribution methods, Apple’s commitment to user safety remains steadfast, as reflected in its robust fraud prevention measures.

Read next: Android 15 features that will transform your smartphone experience