Apple’s App Store avoided $1.5 billion in fraudulent transactions in 2021

Apple’s App Store started with a measly 500 apps in 2008 and now has grown into a massive online marketplace that generates billions of dollars in transactions every year.

Apple App Store is the most lucrative platform for developers to make a good profit from their efforts and for consumers to get the most out of the services available.

With tight security in place, the App Store sees less fraud compared to other online stores, and this year, according to Apple, it was able to prevent $1.5 billion in transactions in 2021.

Furthermore, it stopped more than 1.6 million risky and vulnerable apps and app updates from fraudulent users.

Key insights from Apple’s App Store Fraud Prevention Report (2021)
— Over 34,500 apps rejected for containing hidden or undocumented functionality
— More than 157,000 apps rejected because they are spam, copycats or misleading users
— Over 343,000 apps rejected for privacy violations
– Nearly $1.5 billion in fraudulent transactions were stopped
— More than 3.3 million stolen credit cards prevented from purchasing
— Nearly 600,000 accounts are banned from re-trading
— More than 170 million fraudulent customer accounts deactivated
— More than 118 million fraudulent account creation attempts have been rejected
— Over 802,000 fraudulent developer accounts have been terminated

What sets Apple’s Application Policy Violation Review process apart from other platforms is that it makes good use of both IT automation and a dedicated human team.

“The App Review team examines every app and every update to ensure they meet the App Store’s privacy, security, and spam guidelines. This process serves as a line of defense essential to help protect users from bad actors,” Apple said.

Apple has blocked over 835,000 new problematic apps and an additional 805,000 app updates have been rejected or removed for various valid reasons.

In addition to eliminating bad apps, Apple was able to integrate new apps developed by 107,000 new developers in 2021.

Additionally, there is a system in place for developers to challenge Apple’s decision to improperly remove/block the app and request to present their case to the App Review Board.
Additionally, Apple device owners can also report instances of fraud against app developers on the Apple App Store.

That said, app developers also face issues with fake reviews from rivals, which hurts revenue prospects. To solve this problem, Apple has also implemented a robust filtering process driven by machine learning, artificial intelligence and a human team, in order to keep an eye on these illegal practices.

Get the latest news on new launches, gadget reviews, apps, cybersecurity and more on personal tech only on DH Tech.

About Sandra A. Powell

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