How to Avoid Cash App Scams

Peer-to-peer (P2P) mobile payment services like Venmo, Zelle, and Cash App have grown in popularity as digital solutions for the average person. You can send and receive money to and from friends and family with a click or a tap. Accessing your bank accounts, credit or debit cards, and immediate cash transfers are all possible.

Cash App is one of the most popular P2P payment apps. It's simple to use and navigate, so customers can quickly send and receive money. However, Cash App has been accused of fraudulent behavior recently. Here are some scams to watch for if you use the Cash App and methods to safeguard yourself and your personal information.

Fake #CashAppFriday offers

One popular Cash App scam involves people pretending to be giving away money as part of the "#CashAppFriday" promotion. These scammers will often post on social media platforms like Twitter, Instagram, and Facebook claiming to give away free money through Cash App as part of a contest or promotion. If you see an offer that looks too good to be true, it probably is. Do not respond to these offers, and notify Cash App staff immediately.

COVID-19 frauds

Another recent scam involves people impersonating organizations like the World Health Organization (WHO) or the Centers for Disease Control and Prevention (CDC). These scammers will create fake websites or social media accounts that look like legitimate organizations. They will then use these platforms to ask for donations or personal information under the guise of helping with COVID-19 relief efforts.

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Imposter scams

In an imposter scam, a scammer will pose as a legitimate person or organization that you know and trust. They may contact you through social media, text messages, or email. They may even hack into someone else's account to message you. The goal of these scams is to trick you into giving them money or personal information.

If you receive a message from someone posing as a friend or family member, do not respond. If you're unsure whether the message is from a trusted source, contact the person or organization directly to confirm.

How to Avoid Being Scammed on Cash App

You can do a few things to protect yourself from being scammed on Cash App.

1. Never give out your personal information, like your Social Security number or bank account number, to anyone you don't know or trust.
2. Only add people to your Cash App contact list that you know and trust. If someone contacts you through Cash App and you're unsure who they are, don't respond to their message.
3. Be aware of fake websites and social media accounts that pose as legitimate organizations or businesses. These sites may ask you for personal information or money.
4. Don't engage with offers that seem too good to be true, like free money giveaways.

What to Do if You Suspect You've Been Scammed

If you think you've been the victim of a Cash App scam, there are a few things you can do.

First, if you have given out personal information, like your Social Security number or bank account number, to someone you don't know or trust, contact your bank or credit card company immediately.

Next, if you have sent money to someone you don't know or trust, contact Cash App's support team to see if they can help you get your money back.

Finally, report the scam to the Federal Trade Commission (FTC). You can do this online at ftc.gov/complaint.

You can help protect yourself from being scammed on Cash App by following these steps.