There is a stir in the digital world! Apple blocked fraudulent transactions worth $2.22 billion
Tech & Cybersecurity: California(US). Strengthening the security system, tech giant Apple has taken the biggest action against cyber criminals on its official App Store. In its latest Annual Fraud Prevention Report, the company has revealed that it has successfully blocked fraudulent and suspicious transactions worth $ 2.22 billion (about Rs 18,500 crore) globally. Apple has protected users’ money from theft with the help of advanced AI and human review teams.
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Ban on credit card fraud
Over 54 lakh stolen credit cards were blocked, preventing criminals from committing financial fraud.
Fake accounts suspended
More than 4 crore active suspicious accounts were deactivated and a total of 1.1 billion i.e. 110 crore fake customer accounts were rejected before they were even created and 1.93 lakh developer accounts violating the rules were banned.
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Remove fake apps and reviews
In this, more than 20 lakh app submissions were rejected and 19.5 crore fake reviews and ratings that were misleading the users were removed from the store.
Strict action on ‘morphing’ apps
Apple revealed that it has removed 59,000 apps from the Store using bait-and-switch technology. These were apps that initially looked like a simple calculator or a game, but after being installed on the user’s phone, through a backend update, these apps transformed into financial platforms or betting apps. According to Apple, over the last six years it has prevented a total of more than $11.2 billion in fraud and provided users with a safer digital experience.
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