Over $2 billion in fraudulent transactions were prevented by Apple App Store last year, and 282 million accounts were banned

The Apple App Store prevented over $2 billion worth of fraudulent transactions in 2022 as a result of the growing number of frauds using technology.

According to Apple’s press release, the App Store rejected nearly 1.7 million applications in 2022 for failing to meet its privacy, security, and content standards. There are currently over 36 million registered developers on the Apple platform.

Preventing over $2 billion in fraudulent transactions

According to the report, Apple prevented $2.09 billion in fraudulent transactions in 2022, as well as 714,000 fraudulent accounts from transacting again.

Almost 3.9 million stolen credit cards were blocked from making purchases on the platform.

Termination of accounts

Apart from preventing new fraudulent applications and developers from appearing, Apple has also terminated several developer accounts and prevented new accounts from being created.

The number of developer accounts terminated by Apple in 2022 was over 428,000, down from 802,000 in 2021. It also blocked the creation of 105,000 new accounts.

Developers aren’t the only ones disabled

Additionally to blocking fraudulent developers, the App Store disabled 282 million customer accounts in 2022. These accounts were reportedly associated with fraudulent and abusive activity.

The apple App store submissions rejected by 1.7 million

Over 1.7 million applications were rejected by the App Store in 2022 due to concerns about privacy and fraud.

The reasons why these applications were rejected are quite interesting.

Among the 6.1 million applications reviewed in 2022, over 400,000 were rejected due to privacy violations, followed by 1,53,000 for being copycats or spam.

The company also found applications with malicious code that could steal credentials from third-party services. In addition, the company identified applications masquerading as financial management platforms but capable of morphing into another app. This type of bait-and-switch violation resulted in nearly 24,000 applications being blocked.

Also Read:

• Top 5 Small Business Tech News of the Week
• Breaking News: Fintech Startup Aspiration Set to Layoffs More Than Half of Staff
• Tech Moguls Suffer Major Losses: A Look at the Top Billionaires Who Took a Hit in 2023
• Foxconn Technology Group plans $700 million Investment India plant as it shifts from China