Apple's App Store stopped more than $7 billion in fraudulent transactions in just four years

When the European Union forced Apple to allow third-party app stores on the iPhone, Apple suggested that its own App Store was key to ensuring that the company could keep its users safe. It's the same argument that it's used whenever the topic of the App Store and its payment processing systems has come under fire by lawmakers, and now the company has shared details that it believes help back up that stance. According to Apple, the App Store prevented $7 billion in potentially fraudulent transactions across a four-year time span.

The time span in question ran from 202 to 2023, Apple's press release says, with the transactions including more than $1.8 billion worth in 2023 alone. In the same period, Apple says, the company blocked more than 14 million stolen credit cards and more than 3.3 million accounts from transacting again.

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The press release goes on, saying that in 2023 it rejected more than 1.7 million app submissions that failed to stick to the App Store's standards for privacy, security, and content. Apple also terminated almost 374 million developer and customer accounts and removed close to 152 million ratings and reviews over concerns that they could potentially be fraudulent.

In the same period of time, Apple says that more than 91,000 fraudulent developer accounts were stopped from being created, seemingly preventing more unscrupulous developers from being able to bring apps to the App Store that could have allowed them to steal data and more.

Apple's stance here is no surprise of course and it stands the company in good stead to point out just how much the App Store has helped save people and companies as a result of its stringent checks. And while that's of course true, Apple's App Store is far from perfect. Developers will point to the 30% cut that it takes from all transactions by way of paying for the App Store's upkeep, while the App Store itself isn't always as safe as Apple would like to think. Apps regularly find their way into the App Store, despite having been reviewed, that then go on to steal data and are outright scams. Such apps are subsequently removed from the App Store once Apple becomes aware, but these checks should have prevented the app from ever being made available in the first place.

The App Store is undoubtedly better than having nothing at all, but it's increasingly clear that it shouldn't be the only option for iPhone owners. Those who prefer to make sure they have Apple's protection can continue to use the App Store while those who want additional flexibility can download apps elsewhere - as is now the case in the EU.