You’re a little short on rent this month. That’s why when you get a text telling you that you can get some extra cash, you jump on the opportunity. All you have to do is give the person your Cash App details and send over a small fee.
This is a common scam that many people fall victim to. Chances are, the person is going take the money you sent them and run with it. You’re not going to see a dime.
We’ve got a few Cash App fraud protection tips that will possibly help you get your money back and prevent you from falling for another scam. Keep reading to learn more.
Fake Customer Support
The biggest downside of using Cash App is it doesn’t offer any kind of live customer support. Not everyone knows that and scammers take advantage.
They create fake websites with a Cash App customer support number. When you call the number, they’ll then ask you for your login pin or your bank account information. They may also ask you to download a program for remote access.
If the person on the phone asks you for this sensitive information, hang up right away. An official from Cash App will never ask you for your login pin.
You can report the incident by going directly through the app or looking up the actual Cash App website.
Cash flipping refers to when someone asks you to send them a small sum of money with the promise to send double or triple the amount back to you. Sounds too good to be true, right? That’s because it is.
The person you sent the cash to is going to take it and run. You’re not going to see a dime of it back. There’s only one tried and true way to avoid this scam.
Never complete a cash transaction like this with someone you don’t know. Only share your cash app payment information with a person that you trust.
Every Friday, Cash App runs sweepstakes on their social media pages. If you comment on the posts, you can win cash prizes. Before you enter, make sure that the post is coming from the official Cash App page.
Some scammers create fake posts with the CashAppFriday hashtag. That doesn’t mean that you should avoid entering the contest.
On Twitter, all you have to do is go to the person’s account page and look for a blue checkmark. If it’s there, you’re in the right place.
Due to the COVID-19 pandemic, many people are finding it difficult to pay for their bills or keep their businesses afloat. Scammers are using Cash App fraud to prey upon these poor people.
They’re creating fraudulent relief programs. You can receive the funds that you need, but you can’t get them until you send over a fee via Cash App.
If it’s not a relief program, it’s a giveaway. You’ll get a text message telling you that you’ve won a cash prize for getting your vaccination. It’s easy to fall into this trap because there are some legit getaways going on.
The main red flag to look out for is if the messager requests that you send a tax fee or asks you to give any personal information. Most of these scammers will pretend to be from a legit organization.
You can find out if there’s any truth in the message you received by going to the organization’s official website. They should have a contact page that you can use to get in touch with them.
This scam is sort of similar to cash flipping. Someone will reach out to you asking you to claim a payment. They’ll tell you that the only way to get it will be to send over a fee.
Again, never send cash to someone that you don’t know. There’s always going to be some kind of scam involved. Cash App will never request a user to send money to get money.
You’ve always wanted a Samoyed. They’re beautiful fluffy dogs that are agile and bright. They also come with an expensive price tag attached.
You got a message telling you that someone has an upcoming litter of these fluffy good boys. They’re willing to give you one for half the price that they go for normally.
The only catch is you have to put down the pet deposit right now through Cash App. This is a common scammer tactic. You’ll never receive that puppy.
Don’t give someone money for anything unless you meet them in person first. Be sure to bring someone you trust along with you to the meeting.
Home Rental Deposit
This scam tactic is a lot like the one mentioned above. Someone will send you a message telling you that they can find you a cheap home or offer you an apartment for a reasonable price.
Before they’ll allow you to tour this rental, they’ll want you to send a deposit. No matter how beautiful the pictures they send you are, don’t Cash App the money.
Reporting These Scams
Now that you know about the scams, it’s time to learn how to report them. If you’ve lost money due to a scammer, you might be able to make a Cash App fraud claim to get it back. Going to Blog – Thorne v. Square, Inc. and Sutton Bank: Allegations of Cash App Fraud will tell you how to go about that.
Other than making a claim, the only thing you can do is cut off contact with the messenger and make a new Cash App account. You can send a report through the Cash App website.
Cash App Fraud Protection Tips Every User Should Know About
No matter how much you need money, never trade with someone on Cash App who claims they can help you unless you know the person. If you do, you’ll fall into a scam that will steal a lot of your hard-earned cash.
Don’t let this happen to you. Keep these Cash App fraud protection tips in mind and stop yourself from falling into a trap. If you’re looking for more ways to manage your finances, visit our blog.