Apple Prevents USD 1.8 Billion Worth Fraud Transactions on its App Store

American devices and technology company Apple has increased efforts to prevent fraudulent transactions through its App Store. The company said that due to the increase in digital threats, it has taken measures to protect users from scams and phishing attacks. Apple has prevented fraudulent transactions worth about seven billion dollars on the App Store between 2020 and 2023. Apart from this, more than 1.4 crore stolen credit cards have been blocked during this period and more than 33 lakh accounts have been banned from making transactions again.

“Over the past few years, as the scope and complexity of digital threats have grown, the company has stepped up its efforts to crack down on fraudulent activity,” Apple’s newsroom post said. Every day, more and more people are being targeted by the threat. Company s teams monitor and investigate such activities on the App Store. Modern technology and tools are used for this. “The company said that last year fraudulent transactions worth about $ 1.8 billion were prevented on the App Store. Apart from this, more than 17 lakh app applications have been rejected for not meeting the company’s standards related to privacy, content and security.

Apart from this, the company has terminated the accounts of about 37.4 crore developers and customers. Due to the fear of fraud, about 15.2 crore ratings and reviews have also been removed. Apple said that its review team of about 500 employees evaluates each app before publishing it on the App Store.

The company has made preparations to increase its manufacturing in India. Apple aims to do 25 percent of its total manufacturing of iPhones in the country in the next three-four years. For this, a network of local vendors is being created instead of sourcing inputs from Chinese vendors. A media report, quoting sources aware of the company’s plans, said that a major part of Apple’s manufacturing in the country will be done by its contract manufacturer Foxconn and Tata Group’s company Tata Electronics. India is an important market for the company. Till the end of last year, 14 percent of Apple’s total manufacturing of iPhones was in India.