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Apple's App Store stopped over US$7 billion in potentially fraudulent transactions from 2020 to 2023

By Aaron Yip - on 15 May 2024, 11:44pm

Apple's App Store stopped over US$7 billion in potentially fraudulent transactions from 2020 to 2023

Image Source: Apple

Apple’s App Store has proven to be a stronghold for digital security, preventing over US$7 billion in potentially fraudulent transactions between 2020 to 2023. According to a press release, the App Store has continuously invested in technologies to combat evolving digital threats since its launch in 2008, to maintain a safe and reliable platform for both users and developers.

In 2023 alone, Apple prevented more than US$1.8 billion in fraudulent transactions. Over the past four years, the company blocked over 14 million stolen credit cards and stopped more than 3.3 million fraudulent accounts from making transactions. Apple also rejected over 1.7 million app submissions in 2023 for not meeting its privacy, security, and content standards.

Additionally, Apple terminated nearly 374 million developer and customer accounts and removed close to 152 million fraudulent ratings and reviews. These are big numbers and reflects the complexity of modern cybersecurity challenges and the need for constant innovation and vigilance. But Apple seems to be doing a good job in creating and maintaining a digital ecosystem so far, albeit a gated one. Is that a bad thing, though?

Source: Apple Newsroom

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