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Scammers Using CashApp To Steal Money From Victims, Warns BBB

Scammers Using CashApp To Steal Money From Victims Warns BBB
Date Posted: Monday, October 5th, 2020

In the middle of a pandemic, we’ve seen more people transition to apps to make payments instead of using conventional cash. Along with the change comes an increase in scams.

One of the latest, according to the Better Business Bureau scam tracker, involves the popular CashApp. The BBB says scammers are finding ways to abuse users’ unfamiliarity with the fairly new payment tool.

The BBB says it’s tracking scams that involve people requesting payments through CashApp. When a victim makes that payment, the scammer immediately blocks them.

"For example, one target recently told BBB.org/ScamTracker that, after falling for a tech support scam, they were targeted by the con artist to purchase bogus software through CashApp. Another victim tried to buy concert tickets from a seller who claimed to only accept CashApp payments. “I did not know what that was at the time,” wrote the victim. “I was told I could cancel the transaction at any time. I sent the $350.00 for the tickets and was instant blocked."

Another CashApp scam users need to be aware of involves fake customer support numbers. When people experience a problem with the app, they may search online for help. The scam tracker has seen cases where people come across a phony number online, make a call, turn over their login information and end up getting tricked into sending money.

The BBB offers the following tips for protecting yourself while using CashApp:

*No one representing Cash App will ever ask for your sign-in code over the phone or on social media. CashApp support will also never ask for payment or provide sensitive information, such as your full bank account information.

*Be skeptical of any business that requires CashApp payments. If a company claims to only accept CashApp and/or prepaid debit card payments, be very wary. This is a red flag of a scam.

*Double check information before sending money. Verify the recipient’s name, CashApp handle, and information before sending them money.

*Link your money transfer app to a credit card. As with many other purchases, using a credit card will help protect you if you don’t get the goods or services you paid for. Linking to a debit card or directly to your bank account does not give you that added protection.

Source: Julia Cherry/fox59.com

Date Posted: Monday, October 5th, 2020 , Total Page Views: 456

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