Cash App Scam Cost Houston Woman $1600
So many of us are ditching checking accounts for new App options. Venmo, Cash App, and PayPal, just to name a few. Scammers are also aware of this fact and Cash App scams are rising quickly. This is the App we use the most to get my daughter money while she's away at college. In a story reported by KHOU, a Houston woman was recently scammed out of $1600.00.
It started with an email that she received stating that $499 would be withdrawn from her account. She returned the call to the phone number on the email and was connected with a Cash App Phone Agent. The woman was told to download an App so he could check into the issue. He did not work with CashApp. As soon as she opened her Cash App, she discovered her CashApp account balance was only $4. He transferred $1,600 to someone in Canada.
These scams are similar to the Social Security and IRS scams, but instead of taking over your computer, they take over your phone. After they give you their spill and you give them the authorization to access your account. They remotely take over your phone and do whatever they need to take your money.
Cash App has stated on their website that there are no phone numbers that you can call to speak with cash support. No one representing Cash App will ever ask for your sign-in code If that happens, hang up! In case you didn't know, CashApp and other Apps do not have FDIC insurance or bank protections. So the convenience comes with a risk.
Please discuss this with your children to make sure they don't fall for this scam.