Cash App Fraud & How Do You Report Fraud on Cash App

Want to guard your Cash App account from fraudsters? Continue reading for tips on how to spot Cash App fraud.

One of the inevitable consequences of using Cash App’s super-convenient peer-to-peer payment service is that sooner or later, you’re visiting run into fraudsters. However, protecting your money shouldn’t be an issue if you can spot a scam when you see one.

For example, the foremost common types of scams you’ll come across when using Cash App include:

1. Fake payment notifications

2. Phishing emails

3. Fake giveaways

This guide explores the above scams in additional detail. Additionally, you’ll want to stay around to learn what to do if you fall victim to Cash App fraud.

RELATED READ: are you able to Get Scammed With Bitcoin on Cash App?

Common Cash App Scams

Below are some of the most common scams fraudsters pull on Cash App:

Below are a number of the most common scams fraudsters pull on Cash App:

1. Fake Payment Notifications

With this scam, fraudsters impersonate Cash App, fraudulently claiming that your account has received a payment. Both online sellers and private account holders have fallen prey to this scam.

Fake Purchases

If you’re a web seller, a scammer may request to buy your product using Cash App.

During the transaction, they’ll send a fake payment notification that reads something along the lines of “The balance will only show up after the package is shipped ,” just for you to find that no money has been credited to your account.

Mistaken Payment

In other instances, a scammer may pose as a random stranger claiming (falsely) to possess sent you money meant for someone else by accident.

Cash Prize

Other scammers may attempt to dupe you by offering you a considerable sum of money as a prize. Usually, the condition for receiving the prize is paying a small fee.

2. Phishing Emails

Once again, fraudsters pose as Cash App when completing phishing scams. You’ll receive an email that contains a phishing link, and therefore the email messaging will attempt to convince you to click on it.

Unlike fake payment notification scams, phishing scams are to steal your personal information. Clicking on the link may transport you to a phony survey or log-in page for Cash App. Whatever information you enter into the fields are going to be recorded by the scammer.

In the former case, the scammers gain information about you, which they will use to commit identity theft or fraud. within the latter case, once you supply your log-in information, the scammer gains access to your account on Cash App.

They can then withdraw your money easily.

3. Fake Giveaway

Cash App frequently holds campaigns for its users, and scammers have taken note. Therefore, you'll come across offers purporting to be from Cash App when they aren’t.

Some might ask that you simply should “direct message” Cash App (the scammer posing as the company) to claim the free money. However, the aim of these scams is to extract the log-in credentials for your Cash App account.

How to Protect Yourself From Cash App Fraud?

There are some measures that you simply should take to protect your account from scammers. They include:

· Restrict sending money to only people you recognize and trust

· Always verify and double-check recipients’ information before sending money to make sure you’re sending it to the right person

· Never send money to people that promise you cash in return in the future

We also recommend you're taking the following considerations to heart when met with a possible scam:

· If it sounds too good to be true, it presumably is. Therefore, gifts are a red flag and will be viewed with a skeptical eye

· Don’t click on links from sources you don’t know or trust

· Contact Cash App to verify whether it’s running the offer you’ve received

Additionally, you'll put some protective measures in place to make it difficult for scammers to use credentials obtained from you:

Cash Payment Verification

You can enable the security lock option in Cash App so that payments can’t be made from your account without entering your passcode.

Two-Factor Authentication

Additionally, you'll enable two-factor authentication on Cash App for the email address linked to your account.

READ: the way to Get Money Back on Cash App if Scammed?

I’ve Been Scammed: Now What?

To report a scam you’ve fallen victim to, take the subsequent steps:

· Launch Cash App

· Tap the profile icon (top right corner of the screen)

· Tap “Report a Payment Issue”

· Select the payment and follow the prompts

You can also report scam accounts to Cash App by:

· Tapping the customer avatar to seek out and view a profile. Alternatively, look for the account using its name, email, telephone number , or $Cashtag

· Scrolling right down to the bottom of the profile page and tapping “Report” and “Block”

· Select one among the options you’re presented with and follow the next steps

Conclusion

Fraud is rampant on Cash App, with fake payment notifications, phishing scams, and faux giveaways being the most common scams you’ll come across.

However, you'll protect yourself from Cash App fraud by taking measures such as only sending money to people you know and trust and viewing bogus-sounding offers with clear eyes.

Source :

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https://www.inflearn.com/blogs/2103

https://kruthai.com/read-blog/152599

https://weoneit.com/read-blog/30878

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https://www.hirakbook.com/read-blog/75883