Apple blocks $2.2bn of fraudulent App Store purchases yearly

Apple prevented over $2.2 billion in fraudulent transactions on the App Store in the past year, bringing total blocked fraud to over $11.2 billion in six years. The company employed machine learning and human reviews to enhance fraud detection, blocking 1.1 billion fraudulent account creations and deactivating 40.4 million user accounts for fraud. Apple also terminated 193,000 developer accounts for fraud concerns and blocked 28,000 illegitimate apps on pirate storefronts.

Furthermore, they stopped 5.4 million stolen credit cards from being used for fraudulent purchases, demonstrating a robust response to evolving cyber threats.