Apple recently claimed that it stopped over $7 billion of potential fraudulent transactions between 2020 and 2023. The figures emerged from the company’s fourth annual fraud prevention analysis that it shared yesterday. In the report, Apple detailed how its App Store’s rules have protected users from fraudulent apps and several other security issues between the mentioned time frame.
As per the report, the company managed to prevent over $1.8 billion in fraudulent transactions in 2023 alone. It is worth noting that this figure is lower than the $2 billion reported by the company for 2022. Apple further added how it managed to prevent over $7 billion in fraudulent transactions during the time frame.
During 2020 and 2023, Apple blocked over 14 million stolen credit cards and over 3.3 million accounts from making any transactions. The company added that it rejected over 1.7 million app submissions in 2023 as well. Apple said all such apps failed to meet its privacy, security, and content standards.