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Venmo and Cash App are a scammer’s paradise

first_img Save my name, email, and website in this browser for the next time I comment. LEAVE A REPLY Cancel reply The darknet loves Venmo and Cash App — and no, it’s not because the criminal underworld is obsessed with the ease of paying back friends for that round of mai tais.The same features that have made the payment apps so convenient to the rest of us are also a huge boon to cybercriminals.Apps like Venmo and Cash App have 3x to 4x the fraud rate of credit or debit cards. And Cash App has been mentioned 10k+ times on the darknet in August, up 450% from last year.You can blame some of this on marketingIn 2017, the app launched a “Cash App Fridays” promotion: Share your username, and the company might send you some extra dough.Only problem? Fraudsters are collecting those usernames, too. And they will hit you with all sorts of bogus charges in the hopes of collecting money from unsuspecting users.Now they’re targeting people who are already struggling financially.OK, but how do Cash App scams work?One single mother, Ashley Tolley, received a series of charge requests from accounts that looked real — minus a slight letter change.Scammers made off with $560. That was equal to a month of child support payments.Is any payment app safe?Zelle — the payment service backed by Bank of America, Chase, JPMorgan, and others — is one of the few to have extra verification steps. You have to register through your bank, for instance.And it seems to work. On the darknet, according to the Times, fraudsters mention Zelle way less than other payments apps. The Anatomy of Fear TAGSCash AppFraudScamThe HustleVenmoZelle Previous articleYes, more and more young adults are living with their parents – but is that necessarily bad?Next articleAudubon Florida to host premier event virtually: “Reimagining Audubon Florida: A call for inclusive conservation” Denise Connell RELATED ARTICLESMORE FROM AUTHOR Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Photo courtesy of The Hustle From The Hustle Share on Facebook Tweet on Twitter You have entered an incorrect email address! Please enter your email address here Please enter your name here Support conservation and fish with NEW Florida specialty license plate Please enter your comment!last_img

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