“Apple is offering hackers up to $200,000 to find security loopholes in its products, the company announced on Thursday, as it joins a number of major technology firms that have so-called ‘bug bounty programs,'” Arjun Kharpal reports for CNBC.

“The amount researchers are paid are based on the severity of the flaw they find. The lowest reward is for $25,000, going up to $200,000,” Kharpal reports. “It’s one of the biggest rewards in the industry. Uber for example offers hackers up to $10,000 while Google’s maximum prize pot is $20,000.”

“The program will be invite-only to begin with and potential hackers will be chosen from a group of experts who have previously made security flaws known to Apple,” Kharpal reports. “Apple’s program was announced at the Black Hat Conference in Las Vegas by Ivan Krstić, Apple’s head of security engineering and architecture, and went into technical detail about the security related to Auto Unlock, HomeKit, and iCloud Keychain.”

Read more in the full article here.

MacDailyNews Take: Excellent news. As a result of this new program, Apple product users will enjoy even more security and privacy protections!

SEE ALSO:
Black Hat 2016: Apple’s iPhone destroys Android phones in security – August 4, 2016
Apple to talk iOS security at Black Hat conference – July 24, 2012