Apple App Store prevented over $2 billion in fraudulent transactions last year, banned 282 million user accounts

• The Apple App Store prevented over $2 billion in fraudulent transactions in 2022 and prevented 3.9 million stolen credit cards from being used.
• Nearly 1.7 million application submissions were rejected for concerns related to privacy or fraud.
• Apple also disabled over 282 million customer accounts for fraud.

Frauds using technology are on the rise across the world and this prompted both companies and users to be more careful. Apple has now revealed that the App Store prevented over $2 billion worth of fraudulent transactions in 2022.

In its press release, Apple claimed that the App Store rejected nearly 1.7 million app submissions in 2022 for failing to meet its standards for privacy, security and content. Apple currently has over 36 million registered developers on its platform.
Over $2 billion in fraudulent transactions prevented
The main highlight of the report is that Apple prevented $2.09 billion in fraudulent transactions in 2022. The company also blocked 714,000 fraudulent accounts from transactions again on the platform.

The company blocked nearly 3.9 million stolen credit cards from making purchases on the platform.
Accounts terminated
In addition to preventing new fraudulent applications and developers from popping up, Apple has also revealed that it has terminated several developer accounts and prevented account creations.

In 2022, Apple terminated over 428,000 developer accounts for “potentially fraudulent activity”, down from 802,000 accounts terminated in 2021. In addition to this, it blocked the creation of 105,000 developer accounts.
It’s not just developers that are disabled
In addition to blocking fraudulent developers, the App Store also disabled 282 million customer accounts in 2022. These accounts were reportedly associated with fraudulent and abusive activity. Additionally, the company also blocked the creation of 198 million customer accounts.
1.7 million app submissions rejected
The App Store rejected over 1.7 million application submissions in 2022 for various reasons, including concerns related to privacy and fraud.

It’s quite interesting when you look at the reasons why these applications were rejected.

Out of the 6.1 million applications reviewed in 2022, over 400,000 application submissions were rejected for privacy violations, followed by 1,53,000 applications being rejected for being a copycat or a spam application.

Apple also caught applications that contained “malicious code” that had the potential to steal users’ credentials from third-party services. The company also identified applications that disguised themselves as financial management platforms but had the capability to morph into another app. The company blocked nearly 24,000 applications for such bait-and-switch violations.

SEE ALSO:

Electric two wheelers may get costlier as government looks to revamp the FAME-II scheme

Indians booking Airbnb for international visits doubled in Q1 2023; UK, US & Europe top destinations

How to find phone numbers registered in your name and block those that aren’t yours