fbpx
Online Banking

Don’t become a victim of financial fraud from money apps

“Arkansas woman scammed out of $4,800 after using Cash App.”

 

“Raleigh man loses $24,000 in Cash App scam.”

 

The headlines featuring Cash App fraud and scams keep piling up as of late, and we don’t want you to be next. Cash App fraud reports are up more than 300% from this time last year, according to the latest figures from mobile-intelligence provider Apptopia.

 

If you use any person-to-person money transfer app, especially Cash App, there are scams a-plenty to be worried about.

 

A fake 800 number claiming to be Cash App customer support is one such way that people are being scammed out of their hard-earned money. A live person will pick up and be unassuming and very helpful, asking you to download what they call a tech support app. Downloading that app will allow the scammers to hack into your phone remotely and send themselves the money from your account.

 

Cash App says the best way to contact Cash App Support is through your app by tapping the profile icon on your Cash App home screen, select Support, and navigate to the issue.

 

Our best advice is to use a trusted person-to-person payment method such as PayPal or Venmo with a more robust customer service offering in case you do encounter issues.

 

For maximum security, Secured Advantage Federal Credit Union offers Pop Money as an option for you to transfer money with friends and family.