Apple Says It Stopped $7 Billion in Fraudulent Transactions in Last 4 Years

Apple today shared its fourth annual fraud prevention analysis, providing insight into how the App Store‘s rules protect users from fraudulent apps and other security issues.

Apple says that it prevented over $1.8 billion in fraudulent transactions in 2023 alone, and $7 billion during the period from 2020 to 2023. Apple blocked more than 14 million stolen credit cards and banned more than 3.3 million accounts from further transactions.

Over 1.7 million apps were rejected in 2023 for not meeting Apple’s standards for privacy, security, and content. 118,000 developer accounts were terminated, down from 428,000 last year. The drop came from new efforts to prevent the creation of fraudulent accounts in the first place, plus more than 91,000 developer enrollments were rejected for fraud concerns.

More than 153 million fraudulent customer accounts were blocked, and close to 374 million developer and customer accounts were terminated. Apple says that it detected and blocked 47,000 illegitimate apps on pirate storefronts, and stopped almost 3.8 million attempts to install or launch apps that were illicitly distributed through the Enterprise Program.

The app review team reviewed 6.9 million app submissions in 2023, and helped 192,000 developers publish their first apps on the ‌App Store‌. Apple says that there has been an uptick in apps that misrepresented themselves as harmful products and later transformed into pirate movie streaming platforms or illegal gambling apps, which the ‌App Store‌ team has worked to block.

Some financial service apps involved in “complex and malicious” social engineering efforts to defraud users were identified and removed, and Apple says a total of 40,000 apps were pulled for bait and switch activity. Another 38,000 apps were rejected for undocumented or hidden features, and 375,000 apps were rejected for privacy violations.

This article, “Apple Says It Stopped $7 Billion in Fraudulent Transactions in Last 4 Years” first appeared on MacRumors.com

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