Apple (AAPL) Removes Apps Tied to Fraud

Apple Inc. (NASDAQ: AAPL) said Tuesday that it removed an undisclosed number of applications from its App Store, citing that a developer Thuat Nguyen had made fraudulent purchases.

The move came after Apple product users had made complaints that their App Store accounts were accessed to buy applications that had been developed by Nguyen. Apple has suggested that App Store users contact their financial institutions and change their passwords used to access their accounts.

The App Store has long been seen as a secure platform, but this situation has raised security questions for Apple, which has gotten more than 100 million customers to activate accounts. The accounts are often user cooperatively with credit card information.

Apple uses the strength of the App Store to sell applications for a myriad of devices, including the iPhone, iPad and various versions of the iPod. Currently the service offers access to more than 225,000 apps.

The latest security threats are unlikely to sway the minds of consumers, who have placed a can-do-no-wrong stamp on the company and its product line.

Recently, despite serious questions over signal connectivity, the latest smart phone from Apple, the iPhone 4 has sold at a record pace. As the company continues to stretch its reach into every aspect of consumer activity, the security threats will surely continue to creep up.

Shares of Apple closed up 0.68 percent to $248.63 today.

You May Also Be Interested In

• Solventum names Neil Zieselman as chief accounting officer
• Magnolia Oil & Gas launches $1B stock offering for acquisition
• Veralto acquires India-based Alfaa UV to expand water treatment