It pays to be careful – here’s how you can stay safe from fake giveaways, money flipping scams and other cons that fraudsters use to trick payment app users out of their hard-earned cash
For today’s consumers, convenience is king. And at the heart of the digital experiences that make our lives easier sits the smartphone. Over the years, these devices have become an extension of ourselves, slowly replacing our cameras, our PCs and now our wallets.
But the popularity of the apps we use every day has made them an attractive target for fraudsters. And mobile payment apps like Cash App, Zelle or Venmo that allow users to send each other money are right at the top of their priority list.
The rise of Cash App
Cash App is used by tens of millions of people each month, especially because among other things, the app allows users to send and receive money instantly. Although it includes multiple features including PIN and biometric authentication, account usage alerts and a certain amount of protection from unauthorized charges, it can’t insulate you from fraud. In short, if you’re tricked into sending a fraudster money, that cash is most likely gone, never to return.
Understanding exactly what these scams might look like is the first step towards staying safe.
Top 10 Cash App scams
1. Super Cash App Friday impersonators
The weekly cash giveaway event…
