Fraudulent transactions worth $1.5bn blocked on App Store in 2021

Apple said it stopped fraudulent transactions worth about $1.5 billion on its App Store in 2021, as it continues to rein in potential illicit activity on its platform.

More than 1.6 million apps deemed risky and untrustworthy were prevented from defrauding users and more than 3.3 million stolen credit cards were blocked from making purchases last year, the iPhone-maker said in its annual fraud analysis on Wednesday.

BUSINESS, TECH, APPLE, APPS

Apple attributed the detection and prevention of malicious apps to its App Review programme, a multilayered approach that combines computer automation with manual human review, which is the “distinguishing component” of the process.

“Bad actors continue to evolve their methods of online fraud, often making their schemes harder to recognise,” the iPhone-maker said in the report released before its Worldwide Developers Conference next week.

Read More : https://www.thenationalnews.com/business/technology/2022/06/02/apple-wwdc-2022-fraudulent-transactions-worth-15bn-blocked-on-app-store-in-2021/

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