Best Practices to Avoid Cash App Fraud & Scams

It’s fairly common these days for people to transfer money to each other via third-party apps. Cash App, in particular, is one of the most frequently used.

Unfortunately, Cash App fraud is also relatively common. Let’s explore what you need to know about it so that you can avoid it in the future.

Be Careful Who You Talk to When Seeking Support

Unfortunately, there are plenty of individuals out there who are willing to pose as Cash App customer support employees.

They do so in order to gain access to sensitive information, such as credit card info. More often than not, these people will reach out to you in order to establish a connection. Otherwise, people would simply contact the legitimate support team instead.

They typically attempt to instill a sense of urgency in their victims. They might say that your money is being withheld, your account is being investigated for suspicious activity, etc. Regardless of what they say, they will then ask you for certain information in order to prove your identity.

This is where the Cash App scam becomes dangerous for users. They might ask for a photo of your driver’s license, birth certificate, Social Security card, or similar document.

As you can tell, this is a situation that can easily lead to a large number of complications. Be sure to keep this in mind when moving forward so that you can keep your information as safe as possible.

Don’t Trust Giveaways

Cash App giveaways are particularly dangerous when it comes to getting scammed.

These often seem fairly legitimate and are held as a sort of raffle. For example, you might have someone reach out to you online and ask you to participate in an event where you could win money. They might ask for your account information, or they may ask you to send them a certain amount of money in order to verify that they are able to complete transactions to your account.

It should come as no surprise that sending money to a scammer is money that you will never get back. As with the above scenario, they attempt to instill urgency within the victim in order to get them to take the desired action.

If you feel as though someone is attempting to scam you, you should report them as soon as possible.

Never Provide Your Login Information to Anybody

This scam isn’t nearly as successful as many others. Most users are well aware of the fact that they should never provide their login information to other people.

However, not everybody understands that they are doing so while they are getting scammed. To clarify, you might receive a text message from an unknown number that says your account has been compromised. It will then provide a link that urges you to change your password in order to protect your account.

In reality, this link provides you with a false form that does not log you in to your account at all. Instead, it sends your login credentials directly to the scammer, which they can then use to compromise your account.

If someone obtains all of your login information in this manner, it can also be difficult to prove that you are the legitimate owner of the account. This is especially true if they are able to change your recovery email, recovery questions, etc.

In addition to text messages, you may also receive emails prompting you to take the same action. Always ensure that the message you receive is from a legitimate Cash App account.

Don’t Send Money to People You Don’t Know

Sending money to people you don’t know is notoriously dangerous.

Scams that involve you doing so are typically orchestrated as legitimate transactions. To elaborate, someone may be offering goods or services online and request a payment through Cash App instead of other methods.

No matter how legitimate they may seem, you can never be sure that this person is not trying to scam you. In general, they will ask for payment before providing the goods or services.

They may say something along the lines of “please pay me now, I’ll drop the couch off after I get home from work.” Unfortunately, many people are far too trusting and will assume that the scammer will fulfill their end of the deal. If you are purchasing goods online, only do so if the Cash App account is verified.

This will help you establish that it is a legitimate business. Wondering what is cash fraud? You can check out this page to learn more about it

Don’t Buy Expensive Items Through The App

When purchasing expensive items, it’s not uncommon for the seller to require a deposit.

This is to help protect them against people who may not follow through with the transaction. So, renting an apartment, buying expensive equipment, etc. are all situations in which the scammer may urge you to send them a certain amount of money before you move forward with the transaction.

Keep this in mind when using the application. It can often be the difference between whether or not you lose your money.

Avoiding Cash App Fraud Might Seem Difficult

It’s not as complicated as you may anticipate, however. When handled correctly, circumventing Cash App fraud is a relatively simple process.

This will help ensure that you don’t encounter issues in the future. Looking for more tips that can help you out later on? Check out the rest of our blog for plenty of more useful information.