Beware scams: How to protect your money on cash apps

Scammers taking advantage of users sending money virtually

More and more people are using apps to send money virtually -- and scammers are hoping to dupe you and take your money. Here's how you can protect yourself when using these cash apps.

More than 18 million people in the last year were scammed using apps, like Zelle or Cash App, to send money virtually.

These apps are advertised as an easy way to send money, and it’s not untrue. More and more people are using apps these days to send money digitally instead of physically.

But before you use your smart phone to send money, you be aware of potential scams that come with it. Cash app scams are booming and with one wrong click, you could lose your cash.

More: Experts warn of scammers on mobile payment apps

Some ways you can protect yourself:

  • Before you send money, verify the information of the person you’re making a payment to. Check the spelling and double check that it is actually their account.
  • Avoid using cash apps to pay for services, because some fake companies create accounts asking for deposits and then vanish.

If you think you’ve been scammed, file a police report or contact the Attorney General. Getting your money back will be hard, but the information you provide could help investigators track these thieves down.


Related: Michigan UIA warns of text message phishing scam targeting unemployment filers


About the Author:

Hank Winchester is Local 4's Consumer Investigative Reporter and the head of WDIV's "Help Me Hank" Consumer Unit. He works to solve consumer complaints, reveal important recalls and track down thieves who have ripped off metro Detroiters.