Found this screenshot floating around on how people are scamming #CashAppFriday /WZdBJNXLNi As most such offers are, this “cash flipping” deal is too good to be true.Ĭareful of Scams folks. Users are contacted saying that if they send a specific amount of money, they will be sent back more than the original amount. The Cash App Friday/$Cashtag scam is sometimes a premise for another increasingly common type of fraud leveraging the service. They’ll contact a participant via social media, tell them they’ve won and then request a fee in order to release the here’s one! Go report it if you see this! Report for impersonating or fake account or phishing /4EhCJCEZ22 The weekly cash giveaway event on the platform’s Instagram and Twitter accounts has, predictably, been hijacked by fraudsters. Understanding exactly what these scams might look like is the first step towards staying safe. In short, if you’re tricked into sending a fraudster money, that cash is most likely gone, never to return. 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. The rise of Cash AppĬash 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. 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.

Over the years, these devices have become an extension of ourselves, slowly replacing our cameras, our PCs and now our wallets.īut the popularity of the apps we use every day has made them an attractive target for fraudsters. And at the heart of the digital experiences that make our lives easier sits the smartphone.

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 cashįor today’s consumers, convenience is king.

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