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Apple’s fraud-prevention analysis shows they have prevented $7 billion-worth of fraud since 2020

Apple released its fourth annual fraud-prevention analysis on Tuesday, revealing that it thwarted over $7 billion in potentially fraudulent transactions from 2020 to 2023. In 2023 alone, Apple claimed to have prevented fraudulent activities exceeding $1.8 billion.

Apple’s strategy to combat fraud includes blocking stolen credit cards. The company disclosed that it has blocked over 14 million credit cards and over 3.3 million accounts.

Moreover, Apple rejected 1.7 million app submissions in 2023 for failing to adhere to its guidelines. The company’s app review team, consisting of over 500 experts, meticulously evaluates each app submitted to the App Store. This team can review 132,500 apps weekly and has assessed over 6.9 million app submissions, aiding over 192,000 developers in publishing their first app on the App Store in 2023.

Over the past year, Apple has taken action against over 47,000 illegitimate apps and has thwarted over 3.8 million attempts to install or launch fraudulent apps via the Developer Enterprise Program.

Apple employs sophisticated tools to maintain the safety and security of the App Store, ensuring users can only access safe apps. The company emphasized its commitment to safeguarding both users and developers.

Asserting the effectiveness of its fraud-detection system, Apple reported terminating over 374 million developer and customer accounts and rejecting over 91,000 enrollment applications.

Additionally, Apple addressed fraudulent activities on the customer side, revealing that it blocked over 153 million fraudulent customer account creations and deactivated over 374 million accounts due to fraud and abuse.

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