Be On Guard for Cash App Fraud


Unfortunately, new technology also means new opportunities for fraud. Cash apps, such as Venmo, Facebook Pay and PayPal are becoming more ubiquitous. Because these apps link directly to your bank or credit card accounts, they have also become a top target for scammers.

Cash app technology opens up several new avenues for scammers who understand the technology better than anyone. To keep them at bay and secure your use of your digital wallet, you need to be aware of their methods.

Fraudulent payments

You are selling an expensive item, such as a computer, on Craigslist. The scammer offers to pay with their Cash app. You accept the payment and send the item, only to discover later that the transaction was reversed because the seller used a stolen credit card. You are out both the item and your money.

Canceled payments

A big flaw with Cash apps is some can take more than a day to process a payment. A scammer can make a payment to you and then cancel it before it hits your account. By the time you realize it, the scammer is in the wind.

Protect Yourself Against Cash App Fraud

Your biggest takeaway is to only use a Cash app to transfer funds with people you know and trust. That is the app’s intended purpose. Finally, because there tends to be a lag in processing payments, keep checking your account to verify the transaction went through and that it is correct.

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