Apple says its App Store prevented over $2B in fraudulent transactions last year

Apple’s App Store prevented over $2 billion in potentially fraudulent transactions last year, the tech giant touted in a press release on Tuesday. The company says it rejected nearly 1.7 million app submissions in 2022 for failing to meet the App Store’s standards for privacy and security.

The press release comes as Apple faces a continued push to open up iPhones and iPads to third-party app stores. Last year, the European Union passed the Digital Markets Act that will go into effect in 2024 and force Big Tech companies to allow alternative app stores on their platforms, giving developers a choice in app distribution and users the ability to download apps from different sources.

After the European Union passed the Digital Markets Act, Bloomberg reported that Apple was preparing to allow alternative app stores on its iPhones and iPads to comply with the upcoming requirements. The company is reportedly going to launch the changes as part of the release of iOS 17 this year.

Apple has long argued that sideloading, which refers to the process of installing an app on a phone or tablet without using the device’s official App Store, would expose users to security risks. The idea of sideloading and App Store fees have also been the center of focus in Apple’s lengthy feud with Epic. Apple has pressed U.S. lawmakers on the dangers of sideloading, arguing that it keeps tight control of the apps in its App Store in order to keep users safe.

Throughout today’s press release, Apple reiterates that its protection measures, including the App Store review process, are what helped it prevent fraudulent transactions. The company notes that last year it “protected users from nearly 57,000 untrustworthy apps from illegitimate storefronts, which do not have the same built-in privacy and security protections as the App Store.” The statement essentially reiterates the tech giant’s stance on third-party app stores. Apple goes on to note that “unauthorized marketplaces distribute harmful software that can imitate popular apps or alter them without the consent of their developers.”

Despite Apple’s efforts, it’s worth noting that Apple’s app review process is…