Apple Stock News: Prevention of Fraudulent Transactions in 2022
Apple Stock News: Apple announced that the App Store prevented approximately $2 billion in potential fraudulent transactions last year. They stopped nearly 3.9 million stolen credit cards from being used for fraudulent purchases and banned 714,000 accounts involved in such activities. Additionally, Apple rejected about 1.7 million app submissions that didn’t meet their standards for privacy, security, and content. They terminated 428,000 developer accounts and blocked 105 million fraudulent account creations. Apple also protected users from harmful software, blocked millions of fraudulent ratings and reviews, and expressed concerns about allowing sideloading and alternate app marketplaces, citing potential risks to privacy and security.
Tap to Pay in Australia
Apple has launched Tap to Pay on iPhone in Australia, enabling businesses of all sizes to accept payments using compatible iPhones. The feature utilizes NFC technology and supports contactless credit and debit cards, digital wallets, and Apple Pay. Westpac and Tyro Payments are the initial payment platforms supporting Tap to Pay, with more to come in the future. The feature is available on iPhone XS and newer models, making transactions as simple as opening the app and presenting the iPhone to the buyer. Tap to Pay is also available in the United States and Taiwan.
Stealing Car Secrets for China
Weibao Wang, a former Apple employee, has been charged with six counts of trade secret theft for stealing confidential Apple Car information and sharing it with China. Wang, who had access to databases related to the project, downloaded Apple’s autonomous driving source code and other sensitive data before resigning in 2018. He later accepted a position at a Chinese company’s U.S. subsidiary developing autonomous driving technology. The Department of Justice conducted a search, and Wang fled to China, where the full extent of the theft was discovered. Wang faces up to 60 years in prison if convicted. Two other Apple employees were also involved in similar theft attempts.