Cash App’s reputation for ease of use and efficiency is well-deserved. But, as with any digital platform, there’s a lurking concern: scams. Yes, even in this modern age of secure online transactions, users of Cash App can still find themselves vulnerable to cunning schemes. Are you eager to shield yourself from the snares of Cash App scams? Then, you’re in the right place. Join us as we explore the rising popularity of Cash App, how it works, its safety measures, and the unfortunate reality of common Cash App scams.
18 Types of Cash App Scams
- Posing as Cash App support
- Fake Accidental Transactions
- Fake Debit Card Scam
- Expensive Goods Scam
- Bitcoin Scam
- Pet Sale Scams
- Random Deposits Scam
- Claim Your Prize Scam
- SSN Request Scam
- Rental Scams
- Cash Flipping Scams
- Coronavirus Scams
- Bad Romance Scams
- Cash App Text Scam
- CashAppFridays Scams
- Phishing Email Scams
- Fake Security Alert Scams
- Gift Card Scams
1. Posing as Cash App support
Tech support scams rank among the most prevalent methods employed by fraudulent entities to deceive Cash App users. These target unsuspecting users by assuming the guise of Cash App support personnel or other affiliated personnel. You should report the issues directly through the app.
How To Prevent:
- Be cautious of unsolicited offers for help with your Cash App account through social media messages, emails, phone calls, or text messages.
- Never share your login details or click on the provided links.
- Cash App won’t ask for your sensitive information or require you to download apps, send money, or complete transactions to get support.
- If someone claims to be from Cash App and calls you, it’s a scam because Cash App doesn’t offer phone support.
2. Fake Accidental Transactions
This popular cash app scams sending your money employs a deceptive tactic involving the creation of counterfeit Cash App receipts, to demonstrate that they’ve sent you money. Subsequently, they demand a refund for this purported transaction. Unfortunately, once you initiate the refund, you discover that no genuine payment was ever received by you. Instead, you’re left with the loss of the money you refunded to the scammer. If you attempt to expose the scammer, they may accuse you of attempting to defraud them and pressure you into “refunding” the money they purportedly sent.
How To Identify:
- You receive a notification regarding a Cash App payment from an unofficial domain. It’s crucial to note that all legitimate Cash App messages will originate from email addresses ending with @Square.com, @Cash.app, or @Squareup.com.
- Someone claims to have sent you money via Cash App, but there’s no trace of it in your account. Cash App transactions are typically nearly instantaneous, so if the funds aren’t in your account, it signifies they were never actually sent.
3. Fake Debit Card Scam
Unfortunately, scammers are now sending unsolicited Cash App debit cards by mail, along with instructions to download the app and scan a QR code to set it up. In reality, these scammers have used your stolen personal information, like your name, Social Security number, and address, to create a Cash App account in your name. They have the login details, so when you add money to the account, they can quickly transfer it to themselves.
How To Identify:
- Mismatched issuer and card number.
- Asymmetrically placed numbers having irregular spacing between them.
- Missing CVV
- Damaged magnetic strip
- Invalid expiry date
4. Expensive Goods Scam
One of the common scams on Cash App involves scammers offering high-value, but completely fake, goods or services in exchange for payment. Cash App doesn’t offer buyer protection and scammers often take advantage of the same.
How To Prevent:
You should verify the item’s authenticity before sending a payment to someone. On being scammed, you can raise a dispute by following the steps listed below:
- Choose the fraudulent transaction.
- Click on the three dots.
- Navigate to “Need Help & Cash App Support.”
- Choose “Dispute This Transaction” option.
Though your claim will be investigated by the Cash App team, there isn’t any guarantee of getting your money back.
5. Bitcoin Scam
People will try to deceive you into giving them your Bitcoin money. They might make false promises to double your investment or offer some other attractive deal. However, once you give them the Bitcoin, they will disappear and you will never hear from them again.
Mode of Attack:
These fraudsters often post fake videos and messages on social media, featuring false testimonials from people who claim to have earned large profits from Bitcoin investments. If you respond to their messages, they may ask you to transfer money or Bitcoin to a Cash App account to “fund” your account.
How To Prevent:
- If you come across any cryptocurrency investment opportunity, be cautious. Nobody can guarantee you a return.
- If your friend or family member posts online about an investment opportunity, verify it with them in person or over the phone. Scammers often take control of accounts because they know their victims are likely to trust posts from people they know.
- Never share any personal information, logins, or photos of your ID with anyone online.
6. Pet Sale Scams
Scammers pretend to have pets for sale and ask for a deposit upfront. The pets don’t exist, and the scammer takes the money. Scammers send fake photos of purebred animals at low prices to lure you into buying them.
How To Prevent:
To avoid these scams, visit breeders in person, and never send money for pets you haven’t seen first. The breeder is most likely a scammer if he is creating a sense of urgency to collect the deposit money.
7. Random Deposits Scam
Sometimes, scammers try to trick you by making a random deposit. They want you to trust them. They might send you money “by accident” and then ask you to send it back to them. They might use this deposit to start a conversation that leads to more scams. Or they could say it was a mistake and ask you to give the money back.
How To Prevent:
If you get an unexpected payment, don’t contact the sender yourself. Instead, block the user, report the issue to Cash App’s customer service, and ask them to cancel the payment.
8. Claim Your Prize Scam
Watch out for messages saying you’ve won a big cash prize. But here’s the catch: before you can get that prize, they want you to send them some money first. Cash App doesn’t do this – they don’t ask you to pay to enter contests or get prizes. So, if someone says you need to send money to claim your prize, it’s probably a trick.
Mode Of Attack:
These scammers pretend to owe you money or say you’ve won, but it’s like a game where you have to pay to get your prize. Once you pay, they grab your money and vanish. Don’t fall for it!
9. SSN Request Scam
Typically, you should only share your SSN with trusted sources like your employer, a bank, or a government agency. On apps like Cash App, it’s smart to be cautious about sharing important identity information. Cash App scammers aren’t just after your money; they’re hungry for your sensitive details. Armed with your Social Security number (SSN), these scammers can wreak havoc by committing identity theft or even opening new financial accounts in your name.
Mode Of Attack:
Scammers will call you, claiming that your Social Security benefits are in jeopardy or that your card needs an urgent update. They’ll use intimidating language to coerce you into “confirming” your SSN and then ask for payment through Cash App for their supposed service.
How To Spot An SSN Scam:
- If someone demands payment via Cash App (or requests gift cards, wire transfers, or cryptocurrency) in exchange for Social Security benefits or services, it’s a red flag. Legitimate government agencies never ask for payment via Cash App or any money transfer service.
- If you receive an unexpected call that appears to be from a government agency asking for your SSN, hang up immediately. Instead, call back using the official phone number of the agency (1-800-772-1213) or visit SSA.gov to verify the legitimacy of the call.
10. Rental Scams
Scammers will lure you with the hope of securing an apartment at an unbelievably low price, but they never deliver on their promises, leaving you out of pocket. These cunning home rental scammers often use popular websites like Zillow and Apartments.com to advertise properties that don’t actually exist.
How To Spot A Rental Scam:
- Make sure you physically visit the property, ask plenty of questions about the owner or property management, and gather as much information as possible.
- Never share your Social Security Number (SSN) or banking details until you can thoroughly verify that the property is indeed legitimate. Your personal information should be protected until you’re certain you’re dealing with a trustworthy source.
11. Cash Flipping Scams
Much like how property flippers buy and renovate homes to make a profit, there’s a darker side where scammers claim they can “flip” your money to make it multiply magically. These cash-flipping scammers often ask for a small amount, like $5 or $10, and promise to turn it into a much larger sum.
How To Spot A cash flipping scam:
- If someone approaches you on social media with a too-good-to-be-true investment or get-rich-quick scheme, be cautious.
- Do an online search before engaging with social media accounts promoting investment schemes to uncover complaints and details from victims.
- Be cautious if a message seems to come from a “friend” but uses language or phrases that your friend wouldn’t typically use.
How To Prevent:
Follow the first line of defense: never send money to people you don’t know. Keep your transactions within your trusted circle, no matter how alluring the deal may seem.
Scammers devised fake websites or sent phishing emails, offering support, but with a catch—you had to pay a “fee” via Cash App to access the service.
How To Spot A COVID-19 Scam:
- Beware of anyone promising a new vaccine or COVID-19 cure in exchange for a fee.
- If a scammer requests your banking details or sensitive healthcare information like your Medicare number, it’s a clear sign of a scam.
- Don’t trust phone calls that appear to be from a government organization at face value.
How To Prevent:
- When in doubt, verify the legitimacy of the offer by contacting the organization through their official phone number.
- Always exercise caution before divulging personal account information to anyone claiming to represent a state or federal government agency.
13. Bad Romance Scams
Scammers build virtual relationships with their victims, often professing love at lightning speed. Once trust is established, the scammers fabricate emergencies and request money, usually via Cash App or other irreversible methods. They may claim legal troubles, overseas issues with their bank accounts, or other invented crises. Sadly, any money sent to them is lost.
How To Spot A Romance Scam:
- Romance scammers move swiftly, attempting to gain your trust and professing love within days, pressuring you to reciprocate. But remember, it’s all part of the scam.
- They always have excuses for avoiding in-person meetings or video calls, insisting the relationship must remain online.
How To Prevent:
- First and foremost, limit the personal information you share with people you meet online.
- Never send money or divulge your Social Security number or bank account information to online acquaintances.
14. Cash App Text Scam
The deceptive Cash App text message will contain a hyperlink designed to illicitly acquire your personal information. These text messages might prompt you to verify your Cash App account or request that you change your password due to an alleged account compromise. They typically include a link leading to a counterfeit website that captures your username and password when you attempt to log in. Once scammers possess your login credentials, they can gain unauthorized access to your account, potentially requesting money from your contacts or making unauthorized purchases using your card.
How To Prevent:
- Never click on any links received through unsolicited texts, emails, or social media messages, even if they seem to originate from a trusted source like Cash App.
- Enhance your account security by activating two-factor authentication and enabling the Security Lock feature within Cash App.
- Consider avoiding keeping a significant amount of money in your Cash App account to mitigate potential losses in case of a hack or unauthorized access.
15. CashAppFridays Scams
CashAppFridays is indeed a legitimate cash giveaway promotion hosted by Cash App. However, scammers have exploited this opportunity to deceive users. They create fake Cash App accounts and misuse the hashtag to contact users, falsely claiming that they’ve won the giveaway. These scammers then request payment or login information as a condition for claiming the prize.
How To Prevent:
- Real winners of #CashAppFridays giveaways will never be asked to provide payment or login credentials to claim their prizes.
- Only respond to giveaways from official Cash App accounts. Cash App’s official handles on Twitter and Instagram are @CashApp.
- Look for a blue checkmark next to the username of the Cash App account on Twitter or Instagram to confirm its authenticity.
- Be wary of unsolicited messages on social media platforms, even if they use the #CashAppFridays hashtag.
- If you intend to participate in the official Cash App sweepstakes, ensure that any links you click on for entry originate from the verified Cash App Twitter account. Scammers may use deceptive links to impersonate official promotions.
16. Phishing Email Scams
Phishing scams are a classic tactic employed by cybercriminals to deceive users into revealing their sensitive information or clicking on malicious links.
How To Prevent:
- Be cautious of emails that do not originate from official Cash App domains, including @Square.com, @Cash.app, or @Squareup.com. Legitimate communications from Cash App will typically come from these domains.
- Phishing emails often use threatening language or create a sense of urgency to manipulate you into taking quick action.
- Be cautious if the sender asks for sensitive information like your password, PIN, or other login credentials.
- Phishing emails often contain links that direct you to third-party websites. Verify the website’s legitimacy before clicking. Look for signs of phishing, such as an insecure domain (HTTP instead of HTTPS), grammatical errors, spelling mistakes, unusual design, or an unofficial domain name resembling Cash App.
17. Fake Security Alert Scams
Scammers often use fear tactics to manipulate individuals into revealing their login information and passwords. One common scam involves sending fraudulent emails that claim your Cash App account has been compromised and your personal information leaked.
How To Prevent:
- Be cautious if the email claiming a security breach is sent from a domain or service that is not an official Cash App domain.
- Don’t act or respond out of urgency or fear. Verify the authenticity of the breach by directly contacting Cash App support through the app or official channels.
- Avoid clicking on any links in the email, especially those prompting you to change your login credentials.
- If you do need to change your login credentials due to a legitimate security concern, do so directly through the Cash App platform or app.
- To enhance the security of your Cash App account, consider enabling 2FA.
18. Gift Card Scams
This Cash App scheme is a variation of the “flipping” scam. It begins with the scammer making a promise to send you a substantial sum of money via Cash App. However, there’s a catch: they request you to purchase a gift card and provide them with the gift card details first. Once you comply, they abscond with the gift card, leaving you at a financial loss.
How To Prevent:
- Approach offers of “free money” with skepticism, especially if they require gift card payments upfront.
- Confirm the legitimacy of individuals claiming to represent government agencies or businesses. Use official contact information to validate their claims.
Conclusion:
The world of digital transactions offers convenience and efficiency, but it’s also a playground for scammers and fraudsters. It’s essential to stay vigilant and educated to protect your hard-earned money. In the unfortunate event that you fall victim to a Cash App scam, don’t hesitate to report the incident to Cash Support.