Apple App Store prevented $1.5 billion in fraudulent transactions in 2021

Apple App Store started off with a meager 500 apps in 2008 and now, it has grown into massive online marketplace thats see billions of dollars of transaction every year.

Apple App Store is the most lucrative platform for developers to earn good profit for their effort and also consumers get the best out of the services available.

With stringent security in place, App Store sees fewer frauds compared to other online stores, and this year, Apple says, it was able to prevent a whopping $1.5 billion worth of transactions in 2021.

Also, it stopped over 1.6 million risky and vulnerable apps and app updates from defrauding users.

Key insights of Apple's fraud prevention report on App Store (2021)
-- More than 34,500 apps rejected for containing hidden or undocumented feature
-- 157,000 plus apps rejected for being spam, copycats, or misleading users
-- More than 343,000 apps rejected for privacy violations
-- Nearly $1.5 billion worth of fraudulent transactions were stopped
-- 3.3 million-plus stolen credit cards prevented from purchasing
-- Nearly 600,000 accounts are banned from ever transacting again
-- More than 170 million fraudulent customer accounts deactivated
-- More than 118 million attempted fraudulent account creations were rejected
-- 802,000 plus fraudulent developer accounts terminated

Compared to other platforms, what distinguishes Apple's app policy violation review process is that it makes good use of both the computer automation and also a dedicated human team.

"App Review team reviews every app and every update to ensure they follow the App Store’s guidelines related to privacy, security, and spam. This process serves as a critical line of defence to help protect users from bad actors," Apple said.

Apple blocked more than 835,000 problematic new apps, and an additional 805,000 app updates, were rejected or removed for a range of valid reasons.

Besides weeding out the bad apps, Apple was able to onboard new apps developed by 107,000 new developers in 2021.

Also, there is a system in place for developers to challenge Apple's decision to incorrectly removed/blocked the app and request to present their case in front of the App Review Board.
Furthermore, Apple device owners can also report fraud cases against app developers on Apple App Store.

Having said that, app developers too, face issues of fake reviews by rivals, which hurt the earning prospects. To address this issue, Apple has also set in place a robust screening process driven by machine learning, artificial intelligence, and human team, to keep a tab on such illegal practices.

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