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Cash App Scams: What is it & How Does it Happen

Cash App Scams: What is it & How Does it Happen

When Cash App was launched in October 2013, many people praised it as being a fast, reliable & user friendly mobile based payment application. With the progress of time Cash App grew beautifully and introduced more features to help better its users. Everything seemed good about Square Cash App until three years ago when it got the evil eyes of scammers. However, the history of online scam & fraud could be traced back to the era of when digitalization was on its initial stage. But, Square Cash App has come under the fire of scam three years ago. And the sad truth is that it is on the rise at a stunning level. Hence, it has become extremely important to know how to recognize & report scam on Cash App.

Whether you are an old cashapp user or new one, one thing is clear that you never ever would like to fall victim to any Cash App scam. In this post, we are going to discuss the type of Square Cash App scams and how users are made fooled. 

But, first of all, as we always do, let's begin with the basics- What is online cashapp fraud? 

What is Cash App Scam 2020?

As the name suggests, Cash App scam is a notorious way to drain the money out of your cashapp wallet & bank account. In recent times, many reports have made headlines in which a large number of cashapp users reported to have lost their money to scammers & fraudsters.

The shocking fact is that not even a Coronavirus Pandemic could remain unaffected from the notorious Cash App scams. Many people have been cheated under the impression of offering assistance and financial aid. People from various states in the USA reported Cash App customer service losing money to the hands of the fraudsters.

However, the horrible cases of fraud have been around for more than four years. Coronovirus Pandemic is just one piece of a long trail of cashapp scam. Find more information in the next section.

What are the common type scams on Square Cash App?

Likewise the other online money stolen technique, on Square payment also cheaters approach the cashapp users and somehow manage to sneak into the Cash App account holder. Once the swindler gets access to your Cash App wallet id & password, he drains out the money and vanishes to never come back. According to experts, almost all fraudsters drain out bank balance in the same way by sending money to fake accounts and then they further send money to somewhere else.

But, the method to approach cashapp users could be different and divided into the below mentioned basis.

Cash App Scam Through Social Media: Almost everyone who uses a payment app also uses Social Media. There is no doubt that Social Media has a broad range of benefits. It has bridged the gap among people and helped dramatically to say connected with our contacts. But, the sad truth is that Social media has also simplified the process of scamming people. Cash App scammers are taking full advantage of open source contacting people. A large number of cashapp scammers could be found on Twitter, Facebook, Youtube, Instagram and question answer sites. Most of the time approach the user under the pretext of offering assistance and get away with your money.

Fraud Cash App Emails: Second most method to dupe Cashapp user is email. As many of us already know that email id could never be secured from getting the evil attention of wrong-doers. You might have noticed that almost every day you get spam & malware email messages to your mail account. And you should not shock to learn if you get any message from stranger offering you free Cash App money, Stocks, Bitcoin, discount, concert tickets, vouchers or Cash App codes. All these nothing but to lure you in to get access to your account.

 

Fake Cash App Refund SMS: This method of Cash App scam is more terrible because in this method scammers send SMS directly to the Cash App users and offer to process unexpected refund. Most often, person on the other side feel pleased to know that she/she is going receive refund for that transaction which she/he never made. And the next moment, in the name of verification, users shared the detail of cashapp wallet and left with no option but losing money to scammer.

Bottom Line

So, after reading today's post about Cash App online fraud & scams, you might have realized how simple but dangerous it is. I hope you will stay alert and never make the mistake of allowing access to your Cash App account to someone whom you don't know. For more information and report to any scam, you can contact Cash App support.


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