Worried about someone scamming you on Cash App? Your best defense is knowledge, so learn how scammers might try to trick you.
Digital payment platforms like Cash App make it very convenient to carry out financial transactions online. For this reason, millions of Cash App users enjoy seamless money transactions. Unfortunately, as with a lot of technology, convenience can come at a cost. Can someone scam you on Cash App? Unfortunately, yes.
Cash App scams have increased significantly over the years, leaving many unsuspecting victims out of pocket. One of the popular scams used to steal money from users is the Cash App Friday scam.
So what is the Cash App Friday scam? Does this mean that the app isn’t safe to use? Or can you be protected from such Cash App scams?
What Is Cash App Friday?
Cash App’s #CashAppFriday promotions give its users opportunities to win hundreds of dollars in cash prizes. To enter the giveaway, users share their unique Cash App identifiers (also known as cashtags) on the Twitter and Instagram posts of the money transfer company. Cash App randomly chooses the winners who respond to its posts with their cashtags.
Cash App Friday scammers use all sorts of tricks to convince real users that they are winners of a giveaway. One of the most common tricks involves a fake Cash App staff telling a user that they have won a cash prize. Once the scammer has the user hooked by their lies, they convince them to pay a “small” fee to get the cash prize.
Unfortunately, a lot of unsuspecting victims truly believe that they can get hundreds of dollars in return for a fee, even though the Cash App giveaway is free.
If you’re ever approached by a scammer pretending to be a Cash App employee, they will likely congratulate you in your private messages for winning the Cash App giveaway. If you respond to get the “prize”, they may ask for you to pay a fee of $20 or less, apparently in order to release the supposed cash reward.
How Can Someone Scam You on Cash App?
The release fees proposed by Cash App Friday scammers are intentionally made small in order to lure you into sending money to the scammers who may be able to make their profits from hundreds of people sending them money.
If you choose to transfer money to the, they may block you so that you do not bother them about the non-existent cash prize that they will never send. This can leave you in a terrible situation as you won’t be able to reverse the transaction to get the money back.
In some cases, the scammer may choose not to block their victim. Instead, they may send links to fake websites to the victim for more “giveaways” so that they can steal their login details. These fraudulent sites can include malicious software that tracks your activities and sends private details to the cybercriminals.
Watch Out for Impersonators
In a time where even personal accounts get impersonated and used for scams, it is more important than ever to remain aware of the risks of interacting with people online, especially when your interaction with them relates to financial transactions.