We recently witnessed how this nation's gas supply can be cut off byHackeruse ransomware. But similar things happen on a much smaller scale every day.
Literally every day, people like you and me are scammed out of our hard earned money by taking advantage of our trusting nature and vulnerability. If you think this couldn't happen to you, think again.
In this article, we list the 13 most commonmoney appScams you need to be wary of. We've also included info on what parent company Block (formerly Square) is doing about it, and helpful tips on how to protect yourself.Here are the 13 most common cash app scams today:
- Cash app friday scam
- money reverse scam
- fake support number
- The money cycle
- Pet or dog deposit scam
- Unwanted cash app debit card scam
- Golpes Craigslist
- Fake apartment rental
- Golpe de Phishing
- Counterfeit money app credit scam
- Bitcoin Investment Scam
- Bitcoin Scammers Scam
1. Cash App Friday Scam
Something as popular as the #CashAppFriday giveaway hosted by the official Cash App Instagram and Twitter accounts was bound to become a hotbed for scammers.
What started randomly when Twitter and Cash App users started publicly soliciting money from strangers by posting their $Cashtag has become an official Cash App giveaway. Every Friday, 10 people can win $500 each, 20 people $250 and 100 people $100. The hashtag for the giveaway is #CashAppFriday.
To win, users on Cash App Instagram or Twitter comment with their $cashtag and usually a more or less intelligent and valid reason to get the Cash App team's attention.
People can also retweet Cash App's post on Twitter with their $cashtag to earn the money.
No website offers Cash App:
- Prize winners will be selected at random. Your chances of winning depend on the number of entries received.
- Prize winners will be notified when they receive a direct message from Cash App on their Twitter or Instagram account to request their full name and address.
Now that we know what the Cash App Friday offer is, let's take a look at the scam.
People trying to win the official prizebe contactedby fake Cash App employees who tell them they won the prize but must "pay a fee" for the prize to be unlocked.
They don't charge huge amounts because (probably) nobody would fall for it. Instead, they ask for $10, $15, or $20, which are more likely to be handed over to them by the victims.
After the victim transfers the money, the scammer blocks their social media account. And because Cash App transfers are instant, there's no way to cancel the transaction or get your money back.
Scammers can also send users fake Cash App link to login so they can steal their credentials and other vital information. They will delete your account and, among other things, they will know where you live - very dangerous stuff.
Since entering the giveaway puts you in the spotlight, your Twitter or IG account could be bombarded by scammers we target on our list. For example, a popular trick is the cash flip.
ALSO READ:Too Many Failed Attempts in the Cash App (Easy Fixes)
2. Reversal Scam
It's hard to believe that people can fall for this scam. They promise people 10x, 20x, or 100x their money. For example, if you send $200, it will be converted to $2000.
Scammers sometimes pretend to be Cash App technicians and/or to be part of the #CashAppFriday team that can turn your $15 into $150 anyway.
This scam is not only limited to Cash App as they use Moneygram and other money transfer services. But apps like Cash App,Venmo, zcellare particularly vulnerable to such scams.
That's because the transfers are instantaneous and irreversible, and these fintechs aren't particularly keen on helping their scammed users.
You hear something like, "Cash App can't cancel or refund cash transactions after the money has been sent to the recipient's bank." from Cash App Support.
TIED TOGETHER:Is Cash App Flip a scam? (How not to be fooled)
3. Fake support number
Imagine that something happened in the app that would warrant you calling Cash App customer service. Perhaps there was an unknown transaction or you were charged twice.
Whatever it is, google the Cash App support number and click on one of the first search results.
I suppose hundreds or even thousands of people did just that and got scammed by the person on the other end of the line pretending to be a Cash App representative.
They ask for sensitive credentials and then delete your cash app and bank account. Scammers perform "search poisoning" to ensure their fake support numbers get to the top of Google search results.
The fact of the matter is that Cash App doesn't have a live support number and even if you call their number you get a recording asking you to contact customer service through the app.
To protect your money, you must remember not to speak to anyone on the phone claiming to be from Cash App. Instead, only contact customer service directly through the app and never give your Cash app PIN or login code to anyone else.
ALSO READ:A Random Person Sent You Money in the Cash App (What To Do)
4. The cycle of money
This modern version of the chains is also known as the "infinite loom", "money board", "blessing circle", "blessing loom", "giving circle" or "mandala game".
It guarantees you a great return for a relatively small investment. The only thing guaranteed is that you will lose your money and trick your friends and family into losing some money too.
The FTC is warning people about theirwebsitedon't fall for it. See how it works.
A person will post on social media or even DM you directly with an invitation to join the "circle" by sending $100 to the person in the center of an octagonal game board via Cash App or another P2P payment service.
Sending in $100 gets you one of eight spots in the outer ring of the octagon, and recruiting others can get you closer to the center of the board.
Eventually, you must land in the middle of a game board and collect $100 from each of the eight recruits in the outer ring. Then exit the game or start over with another $100 deposit.
It's a typical pyramid scheme where you have to constantly recruit more people so that older participants can get paid.
The FTC advises that if you receive an offer from a friend or family member, you should tell them. If you paid someone to play this game, please contact the FTC atftc.gov/complaint🇧🇷 Your report can help them protect others from this ridiculous scam.
5. Pet or Puppy Deposit Scam
So you want to buy a dog? So pretty. But really, though, you have to adopt. One of the reasons is that you can lose a significant amount of money when trying to buy a puppy, dog or even a cat.
Thoroughbreds can be very expensive, and scammers know it. Relying on people's desire to save money when buying things, they try to sell purebred pets at absurdly low prices. To reserve the animal before someone picks it up, they require a deposit via cash app.
You see where this is going. You lose the deposit and are never allowed to pet the dog.
What's the bottom line here? Go to your local animal shelter and adopt a dog. Dead easy.
READ THIS:How to Send $10,000 or More Using the Cash App (A Quick Guide)
6. Cheating Romance
Romance scams hit a record $304 million loss reported to the Federal Trade Commission in 2020. An increase of about 50% compared to 2019.
Romance scammers create fake profiles on various social media websites, dating apps and dating sites.says FTCthat scammers often say they live or travel outside of the US.
They "work on an oil rig," are "in the army," or even serve as "doctors for international organizations."
Scammers will "fall in love" with you very quickly and ask you to send them money via App Cash, gift cards, or other similar irreversible transfers.
They will always come up with an excuse why they can't meet you and why you need to send them money.
FTC seaMessage, romance scammers often charge for:
- pay for a plane ticket or other travel expenses
- pay for surgery or other medical expenses
- Pay duties to get something back
- pay gambling debts
- pay for a visa or other official travel documents
Since social media profiles are so easily spoofed, Googling someone may or may not reveal things about that sudden love interest. A person with only a few Facebook friends should sound the alarm right away, but they don't have to.
The FTC suggests "performing a reverse lookup of the person's profile picture to see if it is associated with another name or details that do not match - these are signs of fraud."
Yes, scammers use photos of real people, which can be an easy way to find out if the person you're communicating with is real.
I challenge you to read what appear to be hundreds of commentsFTC-Blog, from people who have contacted the romance scammers to see their stories. It really is an amazing read.
7. Unsolicited Cash App Debit Card Scam
Scammers send unsolicited messagesCash app debit cardsby post with a letter attached asking you to download the app and scan the QR code. This is actually a genuine Cash App card from a genuine Cash App account that the scammers opened on your behalf.
You could use it asrun throughAccount for other scam victims to send money in seconds and transfer money from "your" Cash App account if they have notifications enabled.
So how can scammers just open an account in your name? SinceEquifax Data BreachIn 2017, half of adult Americans had their information disclosed, including their social security number.
Don't throw away the unsolicited card and go about your day. Contact the authorities and close the account.
8. Golpes Craigslist
There is no shortage of scams selling sites and apps like Craigslist. If you buy or even sell anything there, you run the risk of losing your sale item and money.
According to Craigslist's own website, most scam attempts include one or more of the following:
- Inability or refusal to meet in person to complete the transaction.
- Send an email or text to someone who isn't around.
- Vague initial question, e.g. B. after "the object". Bad grammar/spelling.
- Western Union, Money Gram, Cashier's Check, Money Order, Cash App, Paypal, Cell, Freight, Escrow or a "Guarantee".
You should never prepay for anything as there is a high chance that the seller will not ship the item after receiving your payment.
The same applies to down payments or partial payments. It's easy money for them since you're not protected by your bank, Craigslist, or Cash App.
If the seller has agreed to send the shipment ahead of time, make sure you have it on hand before sending the money.
They often say they sent the thing and it's safe for you to transfer money.
They go so far as to Photoshop a postal receipt to prove it. You can also get an empty pack. Better safe than sorry.
ÖCraigslist siteprovides more examples of cheating and some good advice.
ALSO READ:6 Possible Reasons Why Cash App Transfer Failed (Fixing)
9. Fake apartment rental
This arrives near home. However, the Cash App was not used because it did not exist at the time. My then girlfriend (now wife) was robbed from a rented apartment in Amsterdam a few years ago.
She and her friends booked an apartment for New Year's Eve. The scammer posted pictures of a real apartment on a booking site.
The problem was that the apartment didn't belong to him. They sent him the deposit and he was basically texting and taking calls until the last moment. Then he disappeared.
Long story short, they never got the money back, but a neighbor, a nice old lady, took her in and they even went to a party with her. Thank goodness there are still nice people out there.
This is a very simple move to take off and land. Scammers post fake listings of previously advertised real apartments. They list an incredible price for the potential renter, then sit back and collect rent deposits and application fees.
Once you transfer the money via Cash App, Venmo, orzelle, it disappears. The transaction cannot be canceled or the money refunded.
The pandemic has increased these scams tenfold as everyone moved to virtual previews and online locations.
If the person who posted the ad replies to your questions and asks you to make a quick deposit, don't rush and transfer the money.
Actual owners show the home in person and receive a check or wire instead of an app payment in cash or wire.
These widespread scams target random users to click on a link and enter their account details or reveal sensitive information over the phone.
An example SMS message would be: "$750 cash app transfer awaiting your confirmation." It would also include a link that would take you to the scammer's website.
There are also cold calls from people (and robots) claiming to represent the Cash App team. They also try to get your credentials so they can delete your cash app and connected bank account.
11. Counterfeit App Balance Scam
In this common scam, the scammer tries to buy or sell something for you. And when it's time for a transaction, they'll send you onefake screenshotin an attempt to make you believe that the payment has not arrived, is pending or even successful.
It all depends on the carefully thought out scenario of the scam.
You should NEVER trust a stranger's screenshot as it is easily editable and you could end up with a lot less money than you did a while ago.
12. Bitcoin Investment Scam
Until the last crypto bloodbath when the market crashed (again),Bitcoin and cryptocurrency investment scamgrew. It seemed like everyone was invested and didn't want to be left behind.
Whatever you may think about them, there's no denying that scammers are smart. At least those at the top of the food chain. And they have caught the investment frenzy.
So how do Bitcoin and Cash App connect? You may or may not know that Cash App is one of the easiest ways to buy Bitcoin and transfer it to an external wallet.
That's why social media is full of "premium investors" who can help you "invest" in Bitcoin for "unmatched" returns.
It's pretty easy to fall for this type of scam as we hear about a lot of people getting rich off bitcoin, but there is a smarter way to invest than hanging out with a random person on the internet.
READ THIS:4 Easy Ways to Buy Bitcoin with Chime Bank (A Quick Guide)
13. Bitcoin scammers scam
You may not know it, but email accounts are relatively easy to hack. Public WiFi is one of the main culprits. Business people and travelers often connect with them unaware that third parties might be snooping around.
This is often a lengthy game, as scammers wait mid-negotiation for the right moment to pose as a business contact.
On the other hand, they can pose as someone close to you who you trust and use this moment to suggest an "investment opportunity". And if you never miss a good investment opportunity, you can easily fall victim.
How to use Cash App safely and avoid scams
Cash App can be a safe app if you remember the following expert advice:
- Cash App does not have live phone support. The phone number listed directs you to use the in-app chat feature for assistance. Do not speak to anyone on the phone claiming to be from Cash App.
- Never search Google support numbers for any app as the site listed above could be scammers.
- Never give your Cash app PIN or card number to anyone else.
- Cash App to Cash App payments are instant and generally non-cancellable. Always hold the product in hand before transferring money.
- Never click on links in e-mails or text messages and do not fill in the information in this case.
- Don't use P2P services like Cash App to buy things from strangers.
- Only transfer money to people you know and always make sure the username is correct.
- Set up a PIN or fingerprint to complete transactions, enable two-factor authentication, and turn on notifications to be notified of suspicious behavior.
- Be wary of sweepstakes and giveaways.
- Never post your $cashtag publicly.
- If the potential product, service, price, or home sounds too good to be true, it probably is.
- Don't let strangers handle your phone. If you want to help them, have the message dictated or enter the phone number yourself.
- Leave the mysterious money in your account and report it to the company. Have them return it within the system.
- Always report any suspicious posting, activity, or person to the FTC or law enforcement agencies.
- Or just stop using the Cash App. There ismany alternatives.
What does Cash App itself recommend? They said it:
- No Cash App representative will in any way ask for your login code or PIN
- They will never ask you to send any type of payment.
- If you think you have been the victim of a phishing scam, please change your Cash App PIN immediately and report the incident to Cash App Support
If you find any unauthorized payments on your Cash App account, please contact the merchant concerned. To cancel the pending transaction and prevent further Cash App transactions through the app:
- From the Cash App home screen, tap the Cash Card tab
- Tap on the picture of your debit card
- Select card issue
- Tap on stolen card
- Confirm with your PIN or Touch ID
Find more tips on protecting yourself from scams and scams, or report a scam atFraud.orgthat works with the FTC.
When not to use the Cash app
Do not use the Cash App to purchase products or services online. Use a credit card as it is the safest way to purchase products. You can dispute charges with your credit card company if you have been scammed, misrepresented, not received any product or service, or misrepresented.
Most credit card companies remove CC fees entirely if you report the issue right away. An alternative is to use PayPal as a payment option as it has a robust buyer protection program. However, PayPal is not without its own scams.
If a buyer refuses to accept a payment through either of these two options, this is your instant red flag and a potential scam waiting to happen.
What is Cash App doing against fraud?
Cash App is not responsible for paying or compensating anyone who has been the victim of a scam by anyone claiming to be part of Cash App. But accounts using the Cash App name and logo on Twitter are clearly in violation of their branding rules.
The company says it is aware of social media accounts claiming to be affiliated with Cash App and is working with social media companies to take down any accounts that infringe on its intellectual property rights by using them Use names or logos without permission or attempt to exploit customers. . 🇧🇷
When it comes to preventing off-app fraud, the spokesperson said Cash App has started sending SMS text messages with links to customers if they suspect login attempts seem unusual.
If a customer sends money to someone who Cash App thinks isn't on their contact list, they'll be prompted twice to make sure they want to send money to the account.
The problem is that by the time a hacker or scammer realizes what is happening, they can move so quickly that the money is gone.
So it looks like they have started to do at least something to protect their users. Too little too late?
Tips for communicating with the checkout team
Cash App recommends the following:
- Only reply to emails from people and organizations you know and trust. Cash App emails come from @square.com, @squareup.com, or @cash.app.
- Emails from Cash Team or Square will only link to sites at square.com, squareup.com, cash.app/help, or cash.me. If an email contains links to other websites, it was NOT sent from Square.
- The cash team will never ask you for your login details.
What to do if you got into a money app scam?
You must change the Cash App PIN immediately and report the incident to Cash App Support. Unfortunately, this can be a lengthy process as they don't have live phone support and other means of communication are slow and can take days to resolve.
It really is a shame for such a huge and popular fintech company. Hopefully they will cave in under the pressure and up their safety game. If you haven't read it yet, read oursCash app reviewnext.
As you can see, there are many cash app scams out there.
With the cryptocurrency boom, scammers are using this relatively undetectable payment method to hide where the money is actually going.
Remember what we said about safety when using Cash App and social media and you should be safe.
Scammers know that Cash App doesn't provide buyer protection, so they are more likely to ask their victims to use the app to pay for fake items sold on online shopping platforms like Facebook Marketplace or OfferUp. Once the unsuspecting users pay the fees, the fraudsters will disappear without handing over the items.Can people hack your Cash App with just your Cashtag? ›
Can Someone Hack Your Cash App Account with Your Name or Cash App Tag? No. Cash App scammers need more than your name or Cash App “$Cashtag” to hack your account. They'll also need access to your Cash App PIN, phone number, and email address.How can u get free money? ›
- Join a Focus Group.
- Start Some Freelance Work. ...
- Review a Mock Trial. ...
- Earn While You Shop. ...
- Sign Up for Surveys. ...
- Watch Videos. ...
- Listen to Music. ...
- Play Games.
If you operate Cash App to make a direct deposit of your paycheck, you can earn $100 for free. You will want a unique routing number and account number to use Cash App, as well as a valid physical address. You can earn as much as $100 a day on this way.What happens if a random person sends you money on the Cash App? ›
- Review the Payment.
- Block Them.
- Report it.
- Contact Cash App Support.
- Don't Return the Money and Don't Engage.
If a potentially fraudulent payment occurs, we cancel it to prevent you from being charged. When this happens, your funds will instantly be returned to your Cash App balance or linked bank account. If not, they should be available within 1–3 business days, depending on your bank.How do you get money on Cash App for free? ›
- Request Money. Choose a person by entering their email address, phone number or $cashtag. ...
- Earn a Bonus When You Sign Up. When you first join Cash App after receiving a referral from a friend, you can earn a bonus. ...
- Refer Friends. ...
- Sweepstakes and Giveaways. ...
- Bitcoin Boost.
- Become a Ride-Share Driver. Average income of up to $377 per month. ...
- Make Deliveries for Amazon or Uber Eats. ...
- Become a Pet Sitter or Dog Walker. ...
- Get a Babysitting Gig. ...
- Install Christmas Lights for the Holidays. ...
- Become a Home Organizer. ...
- Help With Home Gardening. ...
- Assist With Deliveries or Moving.
- Borrowing money from friends and family.
- Selling or pawning your stuff.
- Take out a cash advance on your credit card.
- Shop around for the right bad credit loan.
9 Sites Where You Can Get Strangers to Give You Money
- GoFundMe. You've probably heard of GoFundMe before. ...
- Begging Money. ...
- CyberBeg. ...
- Ko-Fi. ...
- Patreon. ...
- Crowdfunder. ...
- Indiegogo. ...
- Earnin: Best for low fees. ...
- Dave: Best for repayment flexibility. ...
- Brigit: Best for budgeting tools. ...
- Empower: Best for fast cash. ...
- Chime: Best for overdraft protection. ...
- MoneyLion: Best for existing customers.
There's no way to “unlock” Cash App Borrow, you just have to make regular deposits so they see a pattern of money coming into the account. The maximum loan amount, $200, is available if you deposit at least $1,000 per month into your Cash App account.How do you make money fast on Cash App? ›
- Sign Up to Earn $5. ...
- Refer New Users. ...
- Request Money from Other Users. ...
- Approve Payments from Other Users. ...
- Earn with Cash Card Boosts. ...
- Earn with Social Media Contests. ...
- Earn with Bitcoin Boosts. ...
- Invest with Cash App.
If someone claiming to be a Cash App service representative asks for your sign-in code or PIN, asks for you to send them money, or asks for personal information, it's a fraudster. No Cash App service representative will ever ask for your sign-in code over the phone, on social media, or through any other channel.Should I accept money from a stranger on Cash App? ›
However, it's essential to keep in mind that getting money from a random person on Cash App can be a scam. As a result, it's best to report the money to Cash App customer service. The stranger should likely be blocked if their profile seems suspicious or if the amount sent to you is unusually high.What does PVC mean in Cash App? ›
Payment Voucher for Procurement Card (PVC)Can someone take money back after Cash App? ›
Cash App to Cash App payments are instant and usually can't be canceled. To be sure, check your activity feed to see if the payment receipt is displaying a cancel option. The recipient can also refund your payment.Why do random people ask for your Cash App? ›
Unfortunately, it is not unusual for a scam to occur on any platform. Cash App scammers are finding new ways to target people and make them victims of these scams. There are a couple of ways a random person sending you money on Cash App could be a scam.
The only way you can get free CashApp money is by participating in online giveaways. There are lots of CashApp giveaway websites online but not all of them are legit. You may also earn money with CashApp by participating in paid online surveys.How do you get 500 on Cash App? ›
One of these ways is downloading and installing the Cash App ++ version, which offers you around $500 on the sign up. Another way of getting the free money on this app is using the referral codes.
Phishing messages and vishing calls
Fraudsters also leverage the Cash App brand in classic email/SMS/phone-based social engineering efforts designed to trick victims into handing over their personal details. The aim, as in the fake support scams, is to get hold of information in order to hijack victims' accounts.
Yep, money-grubbing fraudsters are even lurking on peer-to-peer money transfer apps—precisely where you may assume you'd be safe. But all the security and encryption in the world won't stop everyone from falling for a ruse. After all, scammers gonna scam.What to do if someone wants to send you money? ›
If you do receive a message from someone saying they want to send you money, the first step is to report the message or phone call to the authorities. You can also visit the Federal Trade Commission to see if someone else has received a similar message.Can someone hack my bank account with my phone number? ›
If someone steals your phone number, they become you — for all intents and purposes. With your phone number, a hacker can start hijacking your accounts one by one by having a password reset sent to your phone. They can trick automated systems — like your bank — into thinking they're you when you call customer service.How do you get free money on Cash App without doing anything? ›
You can get free money on Cash App by referring friends to join the app, as soon as you create your account. You can earn cash for every new user who joins the app using your referral code, links a debit card to their Cash App account and sends $5 within two weeks of entering your referral code.How do you get $500 on Cash App? ›
The only way you can get free CashApp money is by participating in online giveaways. There are lots of CashApp giveaway websites online but not all of them are legit. You may also earn money with CashApp by participating in paid online surveys.