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Ahead of WWDC, Apple says App Store blocked $2B in fraud transactions last year,$9B in past 5 years
Apple reported blocking $2B in fraud transactions in 2024 and over $9B in the past five years via its App Store, highlighting security benefits for developers. This coincides with new regulations allowing alternative payment methods after legal pressures, encouraging apps to weigh fraud risks against potential savings on commissions. Apple's metrics reiterate the value of its App Store amidst changing dynamics in mobile payments.
Key points
- Apple blocked $2 billion in fraudulent transactions in 2024 alone.
- Over the past five years, Apple has prevented more than $9 billion in fraud.
- Nearly 2 million risky app submissions were blocked in 2024.
- Apple terminated 146,000 developer accounts and rejected 139,000 enrollments due to fraud.
- 711 million customer account creation attempts were rejected, and 129 million accounts were deactivated.
- The company emphasized that the App Store facilitates security, distribution, and discovery, not just payment processing.
Why it matters
- The recent legal changes (e.g., Epic Games vs. Apple) allow developers to use alternative payment methods, impacting the App Store's commission structure.
- The EU's Digital Markets Act enables access to alternative app stores, increasing competition and the risk of fraud.
- These developments align with a trend towards increasing developer independence but raise concerns about transaction security and user safety.
Apple's announcement showcases its commitment to securing the App Store while illustrating the complex landscape for developers navigating new payment regulations and fraud risks, reminding them of the advantages of sticking with Apple's ecosystem.