Along with the obvious grammar errors, a post claiming that Cash App will pay for gift cards contains many red flags.
GREENSBORO, NC – Another day brings yet another pattern.
The “bad guys” are becoming more and more savvy with their tactics. They are already trying to steal your money, and now they are trying to intercept the money you send to your friends and family.
Cash App is one of many money sharing apps, allowing you to bypass the bank and pay someone off debt directly. It’s very popular, which is why viewer Joanne Mendoza asked CHECK.
Mendoza sent an email asking, “CHECK OUT: people on Facebook tell you to send money to get more. “
She included a screenshot of a post she saw her friends share on Facebook. He explains that Cash App gives money to help people during the pandemic, and in order to benefit from it, the user must trade with Cash App using gift cards or a Cash App transfer for commerce. The deal promises the user that they will get earnings immediately “after verification”. Then he describes examples – $ 100 in gift cards means a cash refund of $ 1,500, and so on.
Right away, we notice that the message contains many missing words and other grammatical errors, which immediately triggers red flags. Let’s check.
- Federal Trade Commission (FTC)
- App Cash
- Lechelle Yates – Better Business Bureau (BBB) of Central and Northwestern North Carolina
No, the publication claiming Cash App will pay you 10 times the money from a fake gift card.
Cash App, FTC and BBB investigator Lechelle Yates confirms the post is not legitimate.
Yates explained, “This social media post invokes two golden rules. First, if you’re asked to prepay for some reason, the person asking is a scammer. And second, gift cards don’t. are not currency. Gift cards are intended to be given as gifts. Period. “
Plus, why would Cash App want your gift cards? The FTC states very clearly, “No real business will ever insist that you pay them with a gift card.
And the real The Cash App website has an entire scam warning page. He mentions “money flipping” patterns, where crooks promise to increase your money, if you send them funds first. Scammers sometimes claim, as they did in this bogus Cash App offer, that they need the upfront payment for a “verification” or “customs clearance fee”.
So, at the end of the day, stopping to think – and asking questions – can save you a huge headache.
“There are several ways to protect yourself when using these budget apps,” Yates said.
The three main things to remember are that these payment apps don’t work like banks.
“First of all, realize that Cash App is not like a bank account. Your money is not insured by the federal government. Second, use these apps as they were designed: peer to peer, sending money to people you know. And, third, if you end up sending money to a scammer, you are unlikely to get your money back, ”she said.
She explained that money-sending apps would not bear the cost of fraud like credit card companies do.
So, in conclusion, don’t hit “share” on a fake message like the Cash App offer. Instead, send it to the VERIFY team for dissection.
RELATED: New IRS Rules for Cash App Transactions Come into Force in 2022
And, as a final note on payment apps, watch how much you send, even to trusted sources. As of January 1, 2022, a new IRS rule will require you to report – to the federal government – any payment application business transaction over $ 600.
Do you have a question you want to check? Send a selfie video or short paragraph, along with a screenshot of the source of the complaint, to Meghann Mollerus via:
Facebook: Meghann Mollerus News
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