Apple touts App Store stopped over $7 billion in potentially fraudulent transactions in four years
Apple has released new App Store data today, revealing that over the space of four years, Apple prevented a combined total of over $7 billion in potentially fraudulent transactions, including more than $1.8 billion in 2023 alone. In the same period, Apple blocked over 14 million stolen credit cards and more than 3.3 million accounts from transacting again.
In a post on the Apple Newsroom, the iPhone maker claims that on average, its App Review Team, which evaluates every single app submission to the App Store before being made available to users, reviews approximately 132,500 apps a week, and in 2023, reviewed nearly 6.9 million app submissions.
Over 1.7 million apps were rejected in 2023 for not meeting Apple’s standards for privacy, security, and content. 118,000 developer accounts were terminated, down from 428,000 last year.
“From 2020 through 2023, Apple prevented a combined total of over $7 billion in potentially fraudulent transactions, including more than $1.8 billion in 2023 alone,” the press release reads. “In the same period, Apple blocked over 14 million stolen credit cards and more than 3.3 million accounts from transacting again.”