WABASH VALLEY, Ind. (WTHI) – Scammers are taking advantage of people who want to get rich quick.
In this Scam Alert, the Better Business Bureau warns about money flipping.
Here’s how it works.
You see a photo of a pile of cash on social media. It has a caption about how the user flipped hundreds of dollars into thousands.
They say it’s easy and you can do it too. Then they tell you to message the account holder.
The “investor” will then ask you to send $300 to $800 through Cash App. They say they’re going to double or triple that amount for you.
But the money is really going straight to the scammer’s pocket.
“The scammer then claims that Cash App charges a fee to return it. In other cases, the con artist alleges that you have to first pay taxes to the IRS,” Shelbi Felblinger, from the BBB, said.
The BBB says to be able to tell the difference between real Cash App giveaways and scams. You’ll need to do your research. Be wary of buzzwords and treat your money on Cash App like real cash.
