Apple blocks over $9B in potential fraudulent transactions in last five years

Apple’s (NASDAQ:AAPL) App Store has prevented over $9 billion in potential fraudulent transactions in the last five years, the iPhone maker said on Tuesday.

According to the company’s annual App Store fraud analysis, it has stopped over $2 billion in fraudulent transactions in 2024 alone and blocked nearly 2 million risky app submissions from reaching its users.

Last year, Apple terminated more than 146,000 developer accounts over fraud concerns and rejected an additional 139,000 developer enrollments, while it rejected over 711 million customer account creations and deactivated nearly 129 million customer accounts, aiming to block “risky and malicious accounts from carrying out nefarious activity.”

In recent years, the Cupertino, California-based company has come under fire for many of its App Store policies, including payment methods.

Earlier in the month, a U.S. federal judge in California ruled that Apple violated a court order that required the company to allow greater competition for app downloads and payment methods in its App Store and will be referred to federal prosecutors.

“Apps that attempt to access users’ personal data without their permission or knowledge are also prohibited from the App Store. In 2024, App Review rejected 400,000 app submissions for privacy violations,” Apple said in the report, adding that it identified nearly 4.7 million stolen credit cards and banned over 1.6 million accounts from transacting again during the year.