Apple’s App Store Blocked Fraud Transactions Worth $1.5 Billion – Stopped Over 1.6 Million Risky Apps in 2021

Published on June 3, 2022

According to a report by app security firm Sensor Tower, Apple’s App Store and Google Play blocked transactions worth $1.5 billion and stopped over 1.6 million risky apps in 2021. The report found that Apple’s App Store and Google Play blocked transactions made for illegitimate reasons, such as buying virtual coins or currencies, subscriptions that are free for a limited time, or making purchases with rewards points. Both stores have also removed more than 1.6 million apps from their stores since last year. They are particularly concerned about apps with hidden advertisements, apps with incentivized ratings, malware-like apps, apps tracking user locations without consent, and any app that breaches user privacy.

Reasons behind the increase in fraudulent activities

There are several reasons why the amount of fraudulent activities on app stores has gone up. One is the increase in the number of apps that have been published. Apps have become a part of our daily lives, and the number of apps in the market easily surpasses the number of apps on the market in 2010. With more users and more apps, malicious activities are bound to go up. The second reason is that users are now more aware of the various types of attacks and fraudulent activities on app stores. Thanks to many stories in the media and online, users are more aware of the dangers out there and how they can be protected. They know how to recognize phishing apps, they know they should read the terms and conditions, and they understand the importance of reading reviews.

Apple’s App Store has blocked $1.5 billion worth of fraudulent transactions

The App Store has blocked $1.5 billion worth of fraudulent transactions since the start of last year. The most popular schemes include the purchase of virtual coins and currencies, subscription fraud, and the use of rewards points. The purchase of virtual coins and currencies is the most popular and lucrative type of fraudulent activity in the app economy and is worth more than $1 billion. They are often used to make in-game purchases but are not limited to that, as they can also be used to buy gift cards and make online purchases. In addition, the subscription fraud has cost app developers $200 million. This happens when a user subscribes to a service, but that service is no longer available after a few days, and they don’t get their money back. Finally, rewards points are a relatively new type of fraudulent activity that has cost app developers $100 million since last year.

Google Play has blocked $950 million worth of fraudulent transactions

The Play Store has also blocked $950 million worth of fraudulent transactions since last year. The most popular schemes include:

  • The purchase of virtual coins and currencies.
  • The use of rewards points.
  • Subscription fraud.

The purchase of virtual coins and currencies is the most popular and lucrative type of fraudulent activity in the app economy and is worth more than $1 billion. They are often used to make in-game purchases but are not limited. In addition, the use of rewards points is a relatively new type of fraudulent activity that has cost app developers $100 million since last year.

Google Play has removed more than 1.6 million risky apps

Risky apps are those that break Play’s terms of service and policies. These include apps with hidden advertisements, incentivized ratings, malware-like apps, apps tracking user locations without consent, and any app that breaches user privacy. Google Play has removed more than 1.6 million apps from its store since last year. The most popular types of risky apps are spam and misleading apps. Spam apps include those that have hidden advertisements. These apps can harm user privacy, lead to malware infections, and clog up the app stores with useless and low-quality content. Misleading apps are designed to trick users into downloading them. They often imitate famous apps and try to trick users into downloading them.

Conclusion

Apple’s App Store and Google Play have successfully blocked fraudulent activities and removed scam apps. The two app stores are doing all they can to protect their users and ensure their experience is safe and secure. They are particularly concerned about apps with hidden advertisements, apps with incentivized ratings, malware-like apps, apps tracking user locations without consent, and any app that breaches user privacy.

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