Cash App Scam – Be Cautious While using it

As we are closer than ever to becoming a cashless society, the ways we interact have changed drastically. Nowadays, a majority of the population uses peer to peer payment services such as the Cash App or Venmo. While it is a convenient way of sending and receiving payments, the scammers have found new ways to trick users into handing out all of their sensitive information.

We are not talking about the phishing attacks, but something much more sophisticated than it. If you love using the Cash App or other similar applications, then stick with us till the end and we will walk you through all the popular ways the hustlers use and the telltale signs of them.

At the end of the day, the efficient way to ensure our safety online is by being alert, cautious and we should do everything in our power to stay on top of all the latest trends.

What is Cash App Scam?

The Cash App scam is a hustle carried out by professional and seasoned criminals. They pretend to be working for the Support team of the Cash App and ask the users for sensitive information. Once they have all the data they need to login to the platform, they quickly wipe out the entire account of the victims and flee with the loot.

Unfortunately, the Cash App doesn’t have a dedicated customer care number for personalised support and the crooks are using this loophole to their advantage. Basically, if you are contacted by anyone claiming to work for Cash App and asks for sensitive information such as bank account numbers or PIN digits, then certainly you have to report them to the appropriate officials and organizations quickly. 

Is Cash App a Scam?

The Cash App is a convenient software which brings a lot of functionalities to the users. People can get started with the application in less than 5 minutes and use it not only for everyday transactions, but also for investing in stocks or Bitcoin.

The fees charged by the app is very reasonable and at par with other competitors in the sector such as Paypal and Venmo. Cash App is a fully licensed firm which is trusted by millions of users in the United States.

By itself, the Cash App is not a scam by any means. However, there are scams perpetrated around this service.

Giveaway and Other Types of Scams

To encourage people to share the cloaked links on social media platforms, the crooks usually come up with some kind of ridiculous offers. For example, they might claim to provide free vouchers, lottery tickets, prizes, cashback points or flat percentage on select transactions.

Once the victim and the people they have forwarded the message to have clicked the link, it will ask you to input all your sensitive information and from there onwards, we all know how the story ends. In short, if you don’t remember signing up for something, but still get an email or if the offer is too good to be true, then don’t bother to interact with the links and delete the message as soon as possible.

How to stay safe while using Cash App?

The rules you need to follow in order to remain safe using Cash App are pretty simple. For starters, you should never share your login credentials with anyone. Do not entertain any kind of giveaway offers unless it is from a verified source.

More importantly, set up 2 Factor Authorization to ensure highest security. Also, we have listed a few golden rules below, go through them and we are sure that you will be able to dodge most kinds of attacks or hustles.

Interact with Known Parties – This one is somewhat obvious. You should send and receive money from people you are familiar with and before making the payment always double check the details thoroughly. If you send money to the wrong account by accident, then the chances of getting it back is slim and it certainly is going to be a herculean task.

Moreover, keep in mind that every transaction made on Cash App is instantaneous and if you make errors while making the payments, the platform will not be able to refund your money.

Sensitive Information – No regulated or licensed authorities or their staff will ever ask you about the sensitive information. If anyone is making up an excuse to get your confidential details like the credit card number or social security number, then you should cut the interaction with them immediately and report them.

Remember, the scammers will always have a good story lined up, but if you make the mistake of trusting them, then the damage will be severe. After all, their intention is to get access to your funds and they will go to extreme lengths to achieve it.

Support Team – As we mentioned above, the Cash App unfortunately does not have a dedicated customer number yet. For an automated response you can reach them via 855-351-2274. Alternatively, you can reach the official support team via their mobile application and web platform.

Final Thoughts

The ways and means of exchanging money are all going digital and the users need to adapt to the new era. Right now, the ewallets space is plagued by scams and it doesn’t look like the trend is going to be over any time soon. So, always follow the guidelines set by the application you are using and be careful while dealing with any kind of offers or giveaways.

Note that, we are not saying that every giveaway is a scam, but undeniably most of them are. In case, if you have suffered damages from interacting with any entities, then do not forget to file disputes with your credit/debit card company at the earliest or alternatively you can use the contact form below to know more about the options you have at your disposal. 

Have you come across any Cash App Scams recently? Share your experience with us by commenting below and help us create awareness by sharing this post on your social media platforms.