7 Cash App Scams and How to Avoid Them
7 Cash App Scams and How to Avoid Them

In short

While sending and receiving payments with Cash App is convenient, you also need to be careful to protect your information to prevent fraud.

Common Types of Cash App Scams

The goal of thieves or scammers is to get you to part with your money using Cash App. If something sounds too good to be true, in most cases it probably is. The more aware you are of the common types of Cash App scams, the better prepared you will be to spot thieves and avoid them.

Many of these scams have spread over the years in different variations, including giveaways, accidental payments, and phishing attempts.

1. Fake giveaways

Some websites or social media accounts claim to host sweepstakes that are supposedly officially sanctioned by Cash App. This means you can enter their sweepstakes that claim to award prizes in partnership with Cash App. You may be required to provide information to enter the sweepstakes or claim a prize you win, such as your login information and PIN number.

Some scammers may even require you to send money to claim your prize.

2. Cash Flipping

Some scammers claim to help you make more money if you send them money first. This fee is sometimes called a “processing fee.” They then give you more money back and “sell” your money. Once you send money, you will never hear from them again.

3. Payment claims

You may receive a payment request from a scammer pretending to be a legitimate source to whom you owe money. For example, you may have sold an item on an online marketplace and the scammer claims you haven’t received it and is demanding a refund. The scammer may even claim to have a payment for themselves (from unclaimed funds, for example), but to receive it, you must first send money.

4. Deposit

If you try to reserve a service, such as help finding an apartment or a custom birthday cake, the scammer may try to get you to pay a deposit through Cash App first. You send the money, and the scammer is nowhere to be found.

5. Accidental overpayment

You may receive a payment from a scammer who claims it was an accident and asks you to refund them. Once you do, the scammer will dispute the money they send you through their bank or credit card company, meaning the money you refunded actually came from your own funds.

6. Phishing attempt

Phishing is when scammers try to trick you into giving up your sensitive information. One of the most common ways to get your information is for thieves to direct you to a fake website that pretends to be a legitimate one. There, you are asked to enter your personal and financial information, which scammers use to commit identity fraud or raid your bank accounts.

7. Support for Fake Cash App

Someone posing as a Cash App representative may ask you to “verify” details about your Cash App account or even other sensitive information. Similar to phishing scams, thieves will try to get your information to access your money or use your personal information for other unscrupulous purposes.

Is Cash App safe?

Yes, Cash App is as secure as other types of mobile payment apps. You can send and receive payments and use other features, including investment services and the ability to file your taxes for free.

The security features Cash App uses include:

  • Encryption and fraud detection technology.
  • Secure servers.
  • Account verification and authentication.
  • Data protection controls.

Of course, Cash App’s security also depends on how you use it. For example, if you only use it to send and receive money from people in real life, it’s most likely not a problem. However, if you interact with strangers on the app, you may experience more than you bargained for.

Best Practices to Avoid Cash App Fraud

To avoid Cash App scams, consider the following best practices:

  • Enable two-factor authentication: When you log in to your Cash App account, you’ll be sent a one-time login code. If you receive this code without requesting it, you should enable two-factor authentication, which requires you to confirm your identity in another way.
  • Activate security lock: If you enable this setting, you will need to confirm each payment made with the Cash app using either your Face ID, Touch ID, or password.
  • Enable notifications: Being alerted to any activity or transaction on your account can help you identify potential fraud. You can then notify Cash App as soon as possible.
  • Do not share personal information: It is better to play it safe and not share any confidential information unless you trust that person completely.
  • Verify the identity of the person or company: You want to be sure you’re sending a payment to a legitimate person, so take the time to check their profile on Cash App and confirm their identity through an online search.

What to do if you have been cheated?

If you have been scammed, there are several steps you can take. One is to report the incident to Cash App support and provide details about the incident. You can also try to dispute the transaction with Cash App as soon as possible.

Further steps you can take:

  • Try to cancel the transaction as soon as possible or request a refund from the recipient.
  • Contact the bank or credit card linked to your account and report the fraud.
  • Change your Cash App password and enable two-factor authentication if you haven’t already.
  • Report the incident to your local police.
  • Block the scammer on Cash App and report him.
  • Report the incident to the Federal Trade Commission (FTC).

The AP Buyline Summary: Protect Your Cash App Data

Cash App offers many convenient and useful features, such as free tax filing and the ability to send and receive money from family and friends. Unfortunately, the app also has scammers who try to take advantage of unsuspecting people. It’s worth taking steps to protect yourself.

Frequently Asked Questions (FAQs)

Is it safe to share your Cash App tag?

No, it is not safe. This could make you a victim of scammers and thieves.

How do I force a refund in Cash App?

Unfortunately, when you send someone money using Cash App, you cannot cancel the transaction. You must ask the recipient to refund you.

What can someone do with your routing number in Cash App?

If someone has your Cash App routing number, it might not seem like a big deal. However, if someone has your account and routing number, they can use that information to access your account and withdraw funds. That’s why it’s important to keep your sensitive information safe.