Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Technology / News/  App Store stopped over $2 billion in fraudulent transactions in 2022, Apple claims
BackBack

App Store stopped over $2 billion in fraudulent transactions in 2022, Apple claims

Apple also highlights that App Review on the App Store has evolved its processes over time, and expanded its operations around the world to support developers and help get their apps onto the App Store quickly.

Apple claims to ban 7,14,000 fraudulent accounts from transacting on App Store (PTI)Premium
Apple claims to ban 7,14,000 fraudulent accounts from transacting on App Store (PTI)

Apple says that the security features of the App Store prevented more than 2 billion fraudulent transactions in 2022. In a recent article posted in Apple newsroom, the company highlights the significant efforts made to combat fraudulent activities within their digital marketplace. 

In the article, Apple claims that it rooted out 428,000 developer accounts and 282 million customer accounts for fraud and abuse last year. Additionally, nearly 105,000 Apple Developer Program enrollments were rejected for suspected fraudulent activities, preventing these bad actors from submitting apps to the App Store, the company adds.

The iPhone maker also protected its users from nearly 57,000 untrustworthy apps from illegitimate storefronts in 2022. Apple says that these unauthorized marketplaces distribute harmful software that can imitate popular apps or alter them without the consent of their developers.

The article also highlights that App Review on the App Store has evolved its processes over time, and expanded its operations around the world to support developers and help get their apps onto the App Store quickly. 

Apple says that more than 6.1 million app submissions were reviewed in 2022. Nearly 1.7 million app submissions were rejected from the App Store for various reasons, including concerns related to fraud and privacy.

The Cupertino-based company says that App Review helped more than 185,000 developers publish their very first app on the App Store, and made over 20,000 phone calls to developers to help them diagnose and resolve issues that led to an app submission rejection.

“In other instances, the App Review team identified several apps that disguised themselves as innocuous financial management platforms but had the capability to morph into another app. Nearly 24,000 apps were blocked or removed from the App Store for bait-and-switch violations such as these in 2022," the report says.

Talking about ratings and reviews, Apple says that it blocked and removed more than 147 million ratings and reviews in 2022 for failing to meet moderation standards. Inauthentic ratings and reviews from fraudulent or bot accounts can mislead users into downloading an untrustworthy app that attempts to game the system through misrepresentation. 

The tech giant also claims to have blocked a record $2 billion in fraudulent transactions in 2022, banning 7,14,000 fraudulent accounts from transacting again.

Apple acknowledges the challenges faced by developers and customers due to the increasing sophistication of fraudulent schemes targeting the App Store ecosystem. To address this issue, the company says it has employed a multi-layered approach, combining advanced technology, machine learning algorithms, and human expertise.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Technology News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 17 May 2023, 12:13 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App