Apple's App Store blocked $7B in fraudulent transactions and 14M stolen credit cards between 2020-2023.
Apple's App Store has blocked over $7 billion in fraudulent transactions between 2020 and 2023, with $1.8 billion of that figure occurring in 2023 alone. The company also blocked over 14 million stolen credit cards and over 3.3 million accounts from transacting again during the period. In 2023, Apple rejected 1.7 million app submissions for failing to meet App Store standards. The company's efforts have led to the termination of 374 million accounts and the removal of nearly 152 million ratings and reviews due to fraud concerns. Apple has seen a decrease in terminated developer accounts from 428,000 (2022) to 118,000 (2023), thanks to improvements to prevent fraudulent account creation.
May 14, 2024
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