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  • Geebo 8:00 am on April 22, 2022 Permalink | Reply
    Tags: Cash App, , , , ,   

    Cash flipping scam not confined to one app 

    Cash flipping scam not confined to one app

    By Greg Collier

    We’ve discussed cash flipping scams in the past. They are mostly associated with the payment app Cash App. Cash App has giveaways on Fridays that they call #CashAppFridays. If you follow that hashtag on Twitter or Instagram, you could be eligible for a cash prize from Cash App. This has led to a number of scammers who have hijacked the hashtag to commit the cash, or money, flipping scam.

    The scammers try to convince their victims that they’ll give the victims a lot of money in exchange for a little money. For example, a scammer may promise victims $500 if the victims send the scammers $50 through Cash App. Once the victim sends the money through Cash App, the scammer blocks the victim and keeps their money. Cash App policies have been said to give little recourse to victims in scams like this. Payments can often only be refunded if the person who receives the payment cancels the transaction.

    More recently, the cash flipping scam has migrated from Cash App and onto other payment apps such as Venmo and Zelle. A Sheriff’s Office in South Carolina has recently warned residents there that the scam was finding victims. The Sheriff even said that it’s almost impossible to recover your money once it’s sent to a scammer, since transfers are made instantly, making it incredibly difficult to find the scammer.

    As we always say, cash flipping is not a real thing. You wouldn’t give money to a stranger on the street who promised to invest it. So, why would you give it to a stranger on social media? It’s understandable that people in dire financial straits may be desperate enough to do anything to keep their heads above water. However, there is no true way to get rich quick, and if someone tries, they could find themselves in deeper financial trouble than before.

    https://youtu.be/owhLdGXeNWg
     

  • Geebo 9:00 am on February 25, 2022 Permalink | Reply
    Tags: Cash App, , ComEd, , , , , ,   

    Utility scammers move to payment apps 

    Utility scammers move to payment apps

    By Greg Collier

    Winter in the Midwest is an opportune time for utility scammers to find new victims. Power company ComEd, which serves the greater Chicago area, has reported that shut-off scams have increased by 150% and have claimed $27,000 from customers in just one month. No one who lives in the Midwest wants to face the possibility of losing their power during a cold Winter. These factors can create a perfect storm of fear that scammers are ready to take advantage of.

    The shut-off scam is exactly what it sounds like. Scammers will call up their victims while posing as the local electricity provider. The victims will be told they’re behind on their electricity bill and their service is about to be shut off in a matter of minutes. The scammers then demand an immediate payment to prevent the victim’s service from being terminated. Previously, scammers would get their victims to pay in gift cards, pre-paid debit cards, and, in some instances, cryptocurrency such as Bitcoin. But now, scammers are moving to a different method for extracting money from their victims.

    According to the Better Business Bureau, shut-off scammers are using payment apps such as Venmo, Cash App, and Zelle, which makes sense in a strange way. With gift cards and cryptocurrency, scammers have to direct their victims to physical locations to complete the transaction. With payment apps, scammers can get the money almost immediately with minimal effort. It also helps the scammers that they can block the victim on these apps once they receive the payment. These apps also do not have a lot of customer protection once a user has been scammed.

    As always, no utility company will threaten you with termination over the phone. If you were to get behind in your bill, you would receive a written warning in the mail before any termination of service would happen. Also, please keep in mind that payment apps like Venmo, Cash App, and Zelle are only supposed to be used with people you know personally. Anyone else who asks for payment through these apps just may be trying to scam you.

     

  • Geebo 9:00 am on November 15, 2021 Permalink | Reply
    Tags: , Cash App, credit union, ,   

    Payment app fraud may not be covered by your bank 

    Payment app fraud may not be covered by your bank

    By Greg Collier

    As we have seen with the recent incidents of the Zelle scam, banks aren’t exactly rushing forward to reimburse customers who have lost money due to payment app fraud. Many mobile payment apps require their users to connect either a bank account or a debit or credit card to their accounts. This has allowed scammers to drain bank accounts from many of their targets using multiple apps. These apps offer little to no fraud protection, with many of them just pointing to a page on their website that says how to look out for fraud. In a multitude of cases, many banks have refused to reimburse their customers since the fraud was committed on a third-party platform.

    For example, a couple in San Antonio, Texas, got a call from their credit union asking them about suspicious activity on their account. According to the credit union, there were 11 transactions that took place in the United Kingdom which amounted to $4000. Somehow, scammers got a hold of their Cash App information and were stealing money from the couple’s bank account through Cash App. The couple was angry since the credit union is said to normally call them for transactions over $500 but didn’t warn them about these transactions until it was too late. As with many of these stories, the credit union denied the couple a refund until the couple got the local media involved. All of a sudden, the fraudulent transaction was covered under the couple’s fraud protection on their account.

    If you’re a frequent user of payment apps like Cash App, you may want to link a credit card to your account instead of a debit card or bank account. Credit cards offer many more protections than the payment apps do on their own, and you’ll have a much better chance of getting your money back. If you don’t have a credit card, on some payment apps, you can limit the amount of payment that can be made. Payment app users should also do a daily check on their balance, as the sooner you can catch the fraud, the sooner you can do something about it.

     

  • Geebo 8:00 am on October 26, 2021 Permalink | Reply
    Tags: , Cash App, , , ,   

    Gift card scam targets Cash App users 

    By Greg Collier

    To be blunt, Cash App has a scam problem. Out of all the payment and wallet apps, Cash App seems to have an inordinate number of scammers on its platform. The scam they’re most famous for is known as cash flipping. This is where scammers post on social media that they’ll give a large amount of money to someone’s Cash App account if the person pays a small amount first. For example, scammers will promise $1500 if someone pays them $150. Cash App hasn’t helped itself in discouraging this scam, since they have a giveaway every Friday on social media. However, the difference between a legitimate Cash App giveaway and a scam is that Cash App doesn’t ask for any money in advance.

    Now, another Cash App flipping scam is circulating on social media, and it bypasses Cash App altogether while targeting its users. Scammers are offering large amounts of money on Cash App, but first the user has to buy a gift card to give to the scammer. The higher amount the gift card is, the larger amount of money the Cash App user is supposed to get back. It starts at $1500 for a $100 gift card and goes all the way up to $10,600 for a $1000 git card. Anyone who falls victim to this scam isn’t going to see any money enter their Cash App account. Instead, they’ll be out the money they paid for the gift card.

    The age-old adage of ‘there’s no such thing as a free lunch’ really applies here. If someone is offering you something that seems too good to be true, they either want something from you or it’s an outright scam. Keep in mind that Cash App’s legitimate giveaways are considered sweepstakes and no purchase is necessary. Anyone who asks for money in advance for a giveaway is a scammer. Gift cards are also a huge signifier that this is a scam. Gift cards might even be used more in scams than as actual gifts. No legitimate agency or business will ever ask for payment in gift cards. If you’ve been a victim to any one of the Cash App scams, you can contact Cash App customer service through their app.

     

  • Geebo 8:00 am on September 30, 2021 Permalink | Reply
    Tags: Cash App, , , ,   

    Victim scammed by fake Cash App website 

    Victim scammed by fake Cash App website

    By Greg Collier

    Cash App has an advantage over its competitors like PayPal and Zelle. A Cash App user doesn’t need to have a bank account linked to their Cash App account. This is a great benefit to many Cash App users who are underserved by banks in their communities. However, that advantage comes at a cost. Cash App doesn’t offer the same protections that a bank might when it comes to scams, and unfortunately, Cash App is probably the most popular mobile payment app used by scammers. One of the more common Cash App scams is the fake customer service number scam. This is where scammers take out ads on popular search engines claiming to be Cash App’s official customer service number, but instead you’re directed to a scammer.

    Something similar recently happened to a woman from Arizona. She used Cash App exclusively and did not have a bank account. She recently purchased a new phone and wasn’t sure how to transfer her Cash App account to her new phone. Just because smartphones are commonplace now, that doesn’t necessarily mean that everyone knows all the ins and outs of them, and purchasing a new phone can be a daunting task for some. The woman and her son looked on the internet for instructions on how to do this and came across a website that looked like an official Cash App site.

    The phony website even listed the correct customer service number for Cash App. However, when they clicked on the phone number, it redirected them to a scam call center. The phony rep asked for her account information and transferred all of her entire paycheck to a bank account controlled by the scammers. Another drawback to Cash App is that once a transfer is made, the account who received the money can block the account that sent the money. Or, in this case, the account that had money stolen from it.

    With payment apps like Cash App, your account isn’t permanently tied to the phone you first started using it on. As long as you haven’t changed your phone number, you should be able to redownload the app to your new phone and enter your login information and everything should be on the new phone.

     

  • Geebo 8:00 am on September 8, 2021 Permalink | Reply
    Tags: accidental deposit, , Cash App, deposit scam, , , , ,   

    There’s nothing accidental about these payments 

    There's nothing accidental about these payments

    By Greg Collier

    Last week, we posted about a scam that was affecting Venmo users. In that scam, scammers were posing as friends of the Venmo account holder and asking for money. But what do you do if a stranger sends you money that you didn’t ask for and does it through a payment app? The Better Business Bureau has issued a warning about an accidental payment scam that’s been affecting users of payment apps like Zelle, Venmo, Cash App and others.

    In what’s being called the accidental payment or accidental deposit scam, the victim receives a substantial payment from someone they don’t know. That payment is then followed up by a message from the person who sent the money, saying they sent that payment accidentally, and could you please send it back? Whatever you do at this point, do not send the money back like you would a regular payment.

    According to the BBB, the money that was sent to you was done using a stolen credit card. If you send the money back like a regular payment, you’ll be responsible for that money once it’s discovered the credit card is stolen.

    Instead, you should tell the sender to cancel the payment, which can be done on most of the popular payment apps. If they refuse or try to pressure you into sending it back, it’s more than likely a scam. Also, don’t spend the money that you receive from the scammer, or you’ll be held liable for that money.

    While many of the scammers are finding their victims randomly, others are finding them through social media. In order to prevent receiving phony payments like this, it’s best to keep your account names off of social media. While you may think it’s just a quick post between friends, it can be picked up quickly by scam artists.

     

  • Geebo 8:00 am on May 14, 2021 Permalink | Reply
    Tags: Cash App, , , , , ,   

    Rental scammer takes advantage of pandemic victims 

    Rental scammer takes advantage of pandemic victims

    By Greg Collier

    As we’ve said in the past, the rental scam is probably the most common online scam. It has several variations, but they all result in the same thing, the victim pays for a home rental. More often than not, these scammers are from overseas, however, since the start of the pandemic in March 2020, we’ve seen more and more domestic scammers getting involved with rental scams. One of those scammers was recently arrested after taking advantage of desperate families for over six months.

    The 38-year-old Florida woman was said to have placed ads for rental properties on both Craigslist and Facebook Marketplace. As with most rental scams, she allegedly copied ads from legitimate real estate listings and posted them online with her contact information. She is said to have collected deposits from over 20 victims who were desperate to find housing during the pandemic. Her victims ranged in age from 20 to 71. After she received the payments through a payment app she would then ignore and block her victims. Currently, she’s believed to have swindled over $20,000 from her victims.

    Rental scammers are always looking for victims who are in vulnerable situations such as needing immediate housing. This way, the scammers know they can catch their victims off-guard and get them to make mental mistakes that would benefit the scammer. These include sending money through payment apps like Zelle and Cash App. Victims who pay through these apps can be easily blocked by scammers after the victim loses their money.

    Even if you find yourself in a desperate housing situation, it always pays to research the property in question. If the property is actually for rent, the county’s tax assessor office or website will be able to tell you who actually owns the property. If the name doesn’t match the person or organization claiming to rent the property, it’s more than likely a scam.

     

  • Geebo 8:00 am on April 14, 2021 Permalink | Reply
    Tags: , Cash App, , , phone takeover, ,   

    Scammers stopping cell service can steal your money 

    Scammers stopping cell service can steal your money

    By Greg Collier

    We’ve mentioned this before, but it’s still hard to imagine life these days without your smartphone. It’s been one of those necessities that you don’t leave the house without. If you’re anything like us, we’re sure you’re checking for your keys, identification, and phone before you go out the front door. Now, imagine that you’re out running errands or what have you, and all of a sudden, your phone no longer has any service. No calls, no apps, no texts or anything. If this were to happen to you, it would be more of a problem than not being able to contact anyone. It could have disastrous results for your finances too.

    Recently, in Memphis, Tennessee, two alleged scammers were arrested for reportedly stealing close to $500,000 from AT&T customers. The pair would call into AT&T call centers posing as AT&T employees. They would then be able to get access to customer accounts. With the customer account information, they would call AT&T back and switch the customer’s service to another cellular provider. The scammers then had access to the various apps that the customer may have used. The scammers are then said to have taken money out of apps like PayPal, Venmo, and Cash App.

    While this scam is far from new, we’ve never seen it used on such a grand scale before. Even though AT&T was singled out in this post, it has happened to other providers, again, just not on this scale. This scam usually doesn’t target as many individuals as this one has. Unfortunately, the onus on protecting you from this scam is on the cellular providers. On top of this, customer service representatives for some providers are often under-trained and are asked to handle multiple customers at the same time. This can lead to a lot of fraud slipping through the cracks.

    In some instances, you can set up a PIN or password with your provider that will identify yourself in case someone tries to take over your account. Other than that, the only thing we can recommend is getting in touch with your cellular provider as soon as your service goes out.

     

  • Geebo 8:00 am on March 15, 2021 Permalink | Reply
    Tags: , Cash App, , , , , ,   

    Family dealing with cancer plagued by scammers 

    Family dealing with cancer plagued by scammers

    By Greg Collier

    We’ve been writing about scams and scammers for a while now. You’d think we wouldn’t be surprised by any type of scam anymore or how pervasive they’ve become. Yet, we’re about to tell you about one of the most disheartening scams we’ve ever heard of.

    There is a family in Warwick, Rhode Island who are dealing with one of the most challenging things a family can go through. Their two-year-old son is battling a rare form of cancer. The community has come together to support the family. Not only through a GoFundMe but the local police are also collecting donations for the child’s medical expenses.

    Unfortunately, these days wherever there is hardship there’s someone looking to take advantage of the situation. In this case, there have been a few someones who have been trying to profit from this family’s struggle. As we previously mentioned, the only two official places where donations are being collected are GoFundMe and the local police department. However, multiple scammers have used the toddler’s name to try to collect money for themselves. Scammers are said to be using both Instagram and Cash App to falsely claim they’re collecting money for the two-year-old.

    If that wasn’t bad enough, scammers even approached the two-year-old’s father. He says that he received a text message from someone posing as the child’s doctor asking for money for the child’s healthcare. No family should have to deal with the anguish of worrying about both a child with cancer and the expenses that entails let alone having to deal with scammers who are potentially taking money that could have gone to the boy’s medical bills.

    It’s sad that we have to be skeptical about charity, but that’s the world we live in today. I’m certain that has caused many people to stop donating to worthy causes because of the number of scammers who pose as charities. You can still give to charity, you just need to do a little research first.

    If you can afford it and find it in your heart you can donate to the boy’s treatment fund at this GoFundMe.

     

  • Geebo 9:00 am on March 4, 2021 Permalink | Reply
    Tags: alaska, Cash App, , , ,   

    Scammers use missing persons to commit fraud 

    Scammers use missing persons to commit fraud

    By Greg Collier

    We’ve often said that scammers will stoop to any lengths to try to get one over on their victims. We also say that scammers will try to take advantage of any kind of tragedy to make a quick buck. Now, think of one of the worst tragedies that can befall a family. Then imagine that family having to deal with a scammer that’s trying to take advantage of that tragedy. That’s what’s been happening to many families in Alaska.

    Due to the sheer amount of untamed wilderness that Alaska has, the state has an inordinate amount of missing persons cases per capita. This has led to scammers trying to extort money out of the families involved in these cases. Even we were taken aback when we read about this scam as it’s beyond cruel.

    The scammers take to social media looking for posts that deal with a missing person. They’ll then use that information to contact the missing person’s family. The scammers will say that they are holding the missing person hostage and that the missing person is now ill. The family will be instructed not to contact police and that their loved one will be released if they make a ransom payment. The ransom payment is then demanded to be paid through a payment app like PayPal or Cash App.

    This is a variation of the virtual kidnapping scam with the only difference being is that the person being used in the scam is actually missing. The reason this particular scam is doubly cruel is that not only are the scammers harassing an already distraught family but in some cases, it’s giving them a false sense of hope that they may be getting their family member back.

    Whenever one of these scams come up, we like to remind our readers that kidnapping for ransom is actually very rare in the US.

    We hope that anyone reading this never has to deal with a missing person in their family. However, if the unthinkable happens, and then you receive a scam call like this, you should contact your local police immediately.

     

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