App Store stopped over $1.5 billion in suspect fraudulent transactions in 2020

Apple has published a report outlining how the App Store stopped more than $1.5 billion in potentially fraudulent transactions in 2020, through a combination of automated technologies and human review processes.

Amid its ongoing legal battle with Epic Games over the alleged “monopoly power” Apple has on its App Store, the iPhone marker says features such as Apple Pay and secure in-app purchases through its StoreKit framework, users are kept safe against fraudulent activity.

It takes significant resources behind the scenes to ensure these bad actors can’t exploit users’ most sensitive information, from location to payment details. While it’s impossible to catch every act of fraud or ill intent before it happens, thanks to Apple’s industry-leading antifraud efforts, security experts agree the App Store is the safest place to find and download apps. – In 2020 alone, Apple’s combination of sophisticated technology and human expertise protected customers from more than $1.5 billion in potentially fraudulent transactions, preventing the attempted theft of their money, information, and time — and kept nearly a million risky and vulnerable new apps out of their hands.