The Rise of Cash App Scams

News & Events > The Rise of Cash App Scams

December 14, 2020

The Rise of Cash App Scams

Cash_App

If you frequently send money to friends and family, you may know a few wire transfer apps that offer this service, like VenmoZelle, or Cash App. And while sending hard-earned money back and forth through cyberspace on an app doesn’t sound safe, it generally is. However, are there some exceptions? Always.

Cash App is one of the most popular services; thanks to its simple interference to navigate and user-friendly platform, it has reached almost 60 million downloads, according to MarketWatch.com. However, this popularity has made it an easy target for scammers and fraudsters.

If you are one of Cash App’s millions of users, here is some info to keep in mind while using their service.

  1. Support

If you ever find yourself needing technical support, do not compromise your bank information by searching for Cash App customer service online. Fraudsters often attempt to steal customer data and gain access to accounts by pretending to be Cash App customer service representatives. Be aware that Cash App doesn’t have a direct customer support phone number or online chat designated for personalized assistance.

2. Money Giveaways

The Cash App team holds periodic sweepstakes on their Official Twitter Page, where customers can win money in their accounts. However, scammers have been attempting to pass as Cash App team members to obtain data. Keep in mind that these sweepstakes never require participants to provide their sign-in information nor to send a payment, make a purchase, or download an application of any kind. Currently, only US residents can participate in this program but visit their website for Cash App Fridays rules and updates.

3. Safety First

Most Cash App payments are instant and usually cannot be canceled, so never pay someone untrustworthy ahead of time, and always double-check the information of the person you want to wire. If you need to dispute a transaction, visit the official Cash App website for additional advice and guidance. It’s also suggested to add an extra layer of protection by activating biometrics or a PIN before approving a transaction. The Cash App provides this security option that can be activated by opening the app and tapping on Profile > Privacy & Security > Security Lock. 

In case you believe you have been scammed or receive a suspicious social media message, email, text message, or phone call regarding Cash App, reach out to the Cash App Support Team to report scam-related activity on your account. If you have questions or concerns regarding your PCTFCU account, please contact us at 508-291-0777.