I think everyone at some point gets scammed, I’ve been scammed once, and once it happens once it usually doesn’t happen again. You get like this six sense to it. ( btw I was 17 and got some fast money, after selling an item)

1. Usually: they ask for two things, Cash app name and your Email address ( the email is to send you a fake notification, that they sent the money)
– But when you click it and put in your information, it’ll send them the data
– When you go the cash app, it won’t say anything about the money you got
– And sometimes it says pending a fee ( that could be $100 or $50 or even 10_ – but the point is that the cash app doesn’t charge a fee unless you want the money early
Tip: they also do this with Paypal, Venmo, and iCloud

2. Sending you Real Money
– Now there something called laundering money which I’m sure you have heard about
– The idea is that you have dirty money that you stole or made illegally, but then you want to clean it and make it clean
– Well here is what these Scammers do

Here is How it Works: 2 ways
– If you have a cash app card, then you also have an Account Number and a routing number with them
– The scammer will ask you for this information and send you an agreed amount ( $4,000 to $10,000 most likely)
– Once you get the money you can keep half and send them the other half ( like a partnership

However: in reality they just LANDER stolen money, and if you’re confused, the money they sent you was with a stolen account, debit card or credit card, so when the other person sees 4k-10k missing they will claim it, and you’ll lose 100% of the money but you already sent half. SO you will be liable for it. But the scammer will not.

The second way:
– Is by sending you money by accident
– Then they contact you and request the money back, but to a different account ( hmmm)
– Once you send it to a different account and again the person claims their stolen money you will liable for the full 100%.

Tip: Btw usually when you use the cash app, their no protection, because they say, only send money to people you know. And a scammer is definitely someone you don’t know or you would dole a police report.

3. Exploitation
– These people that do these scams, convince themselves that what they are doing is no big deal ( because you can just try to claim your money from your bank account because of fraud)
– So trying to them after they scam you, will usually lead into you getting blocked and them moving on to the next victim
– So much so that they use the Pandemic, to scam people also, by saying we will send you 250 but just send 25 to get it now.
Here is what I recommend:
– : if someone sends you money by mistake ask them to cancel the transaction on their side, and if the money is not gone in 90 days you will return it. Or maybe 180 days just to be sure.
– Enable Pin and touch id or face id to send money.
– Link your money transfer app with a credit card, since credit card offers more protection against fraud.
– Cash app and most of these transfer app, do not have a customer service number, so any call is usually a scam. Just email them through the app.

Solution:
– Text confirmation every time before money is sent, its annoying and will take 5 seconds but it could save you and cash app a lot of worrying.

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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