New Cash App Scam Sends You Fake Payments

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If it sounds too good to be true, it probably is.

Lately, it seems like a new scam is popping up with every passing day. The one I’m about to tell you about definitely seems like one of the easiest scams to catch.

Would you say “no” to free money? I don’t think most people would. But, this scam is definitely one of the times you will want to do it.

If you use money sharing apps like Venmo or Cash App, be careful. Today I was scrolling through a Facebook group where one user shared that she had received several random users asking her to send her payments to her Cash App account. What?

Someone immediately shared this Identity Theft Resource Center article this explains how the scam works: if you accept the false payment, you will receive a message asking you to return the money. So far, it seems harmless. Here’s the bad part:

Most likely, the scammer withdraws the money from their Venmo card instead of putting it back on the original credit card. They can also remove the stolen credit card from their account and submit their own card in its stead so that the money you send them goes to their personal card.

Essentially, you would be helping someone steal money, sending the money back to the scammer’s card rather than the person they stole the money from in the first place. How do these people come up with this stuff!

In short, be careful – warn your family and friends about this scam because, like I said earlier, not many people would refuse free money; especially people who may not be tech savvy.

It’s especially important to keep an eye out for scammers as the holiday season is approaching and people will be doing anything for money.

And it’s not the only scam going around – make sure you stay on top of the terrifying fake hostage scam, and wrong number scam dating app.

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