Apple blocks $1.5b fraudulent transactions to protect users
By Jeph Ajobaju, Chief Copy Editor
Apple blocked transactions worth $1.5 billion on its App Store in 2021 because they were suspected to be fraudulent and could put millions of App Store users at risk.
Apple said besides, it stopped over 1.6 million risky and vulnerable apps and app updates from defrauding users. It announced it would continue to keep the App Store as a safe and trusted place for people to discover and download apps.
The tech giant added that this is a key pillar in its ongoing effort to detect and to take action against bad actors out to defraud developers and users.
“Bad actors continue to evolve their methods of online fraud, often making their schemes harder to recognize. That is why Apple has continued to refine its processes, create new ones, and engineer solutions to take on these threats,” Apple explained on its website.
“Last year, Apple released an inaugural fraud prevention analysis, which showed that in 2020 alone, Apple’s combination of sophisticated technology and human expertise protected customers from more than $1.5 billion in potentially fraudulent transactions, preventing the attempted theft of their money, information, and time — and kept nearly a million problematic new apps out of their hands.
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Annual update
“Today, Apple is releasing an annual update to that analysis: In 2021, Apple protected customers from nearly $1.5 billion in potentially fraudulent transactions and stopped over 1.6 million risky and vulnerable apps and app updates from defrauding users,” Apple added, per Nairametrics.
“Apple’s efforts to prevent and reduce fraud on the App Store require continuous monitoring and vigilance across multiple teams.
“From App Review to Discovery Fraud, Apple’s ongoing commitment to protect users from fraudulent app activity demonstrates once again why independent, respected security experts have said the App Store is the safest place to find and download apps.”