Cash App and PayPal are convenient platforms for sending and receiving money, but their popularity also makes them targets for scammers. By understanding common scam tactics, you can protect your funds and personal information.
Common Scams and How to Avoid Them:
The "Accidental Payment" Scam: A scammer sends you money and then claims it was a mistake, asking you to send it back. However, the initial payment may be fraudulent and will later be reversed, leaving you out of pocket.
Avoidance: Only send money to people you know and trust. If you receive an unexpected payment, do not send it back. Contact Cash App or PayPal support directly to report it.
The "Advance Fee" Scam: Scammers promise a large sum of money or a valuable prize if you first send a smaller "fee" for processing, taxes, or other reasons.
* Avoidance: Never send money to receive a larger amount in return. If it sounds too good to be true, it likely is.
Fake Customer Support: Scammers impersonate Cash App or Pay