Do not make perfect the enemy of the good. There are failings of vetting.
That said, for sensitive apps they tend to go through more strict scrutiny of their functionality. Publishing a "Wəlls Fargo" application will likely not get approval.
The question isn't "does it need to be 100%" but rather "if was not done at all, would Apple or Google be liable for flaws in their software (e.g. VM breakouts) that allows malware to do banking transactions, location tracking, or place calls (e.g. 1-900 number dialing) without user consent?"
I'm fairly certain that Apple and Google take measures to limit their liability. With how courts and countries are finding technology companies liable for such (consumer and data privacy protections), I would expect to see more restrictions on the device to try to further limit the company's exposure.
That said, for sensitive apps they tend to go through more strict scrutiny of their functionality. Publishing a "Wəlls Fargo" application will likely not get approval.
The question isn't "does it need to be 100%" but rather "if was not done at all, would Apple or Google be liable for flaws in their software (e.g. VM breakouts) that allows malware to do banking transactions, location tracking, or place calls (e.g. 1-900 number dialing) without user consent?"
I'm fairly certain that Apple and Google take measures to limit their liability. With how courts and countries are finding technology companies liable for such (consumer and data privacy protections), I would expect to see more restrictions on the device to try to further limit the company's exposure.