Las Vegas, Apple Offers $200,000 Cash Rewards For Finding Security Bugs in the company's software.

The maker of iPhones and iPads provided Reuters with details of the plan, which includes some of the biggest bounties offered to date, ahead of unveiling it on Thursday afternoon at the Black Hat cyber security conference in Las Vegas.

Google, Facebook and others have long offered such rewards. To start, Apple says it will offer rewards to a limited number of researchers it has worked with before, but it may expand the program.

Security analyst Rich Mogull said that limiting participation would save Apple from dealing with a deluge of low-value bug reports.

"Fully open programs can definitely take a lot of resources to manage," he added.