How to spot financial scammers on peer-to-peer apps

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Credit: Cash App

Cash App

How to protect yourself against P2P scams

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Today, thanks to peer-to-peer (P2P) services like Cash App, our money is more accessible than ever. That means fewer obstacles between us and the things we want in our lives. 

Unfortunately, the P2P nature of these platforms also means that scammers are likely to take advantage of those who aren’t aware. By keeping some essential rules in mind, you can protect yourself, family, friends, and most importantly — your money.

While there are many different types of scams online, a few overall rules can majorly help:

1. Only send payments to accounts you trust

While Cash App does hold giveaways, these will only come from official social media accounts, and not third parties who may not be affiliated. Be sure to double-check all info.

Here is a list of Cash App’s verified social accounts:

• Instagram: @CashApp

• Instagram: @CashByCashapp

• Twitter: @CashApp

• Twitter: @CashSupport

• Twitter:@CashAppStudios

• Tiktok: @CashApp

• Twitch: twitch.tv/CashApp

• Reddit: u/CashAppAndi

• Facebook: SquareCash

2. Never send money on a promise of getting more in return

This trick even predates the Internet: If a message claims to have untold riches for you if you’ll just send a small token amount first, report it immediately. If it sounds too good to be true...

3. Don't give your sign-in code or PIN to anyone

Cash App representatives may contact you for info, but they will never ask for your sign-in details or sensitive information like your bank account number. Don’t send this info to anyone — just report it and official reps will handle it.

If you think you have been scammed, the best way to contact Cash App Support is directly through your app. On the Cash App home screen, first tap the profile icon, and then select Support. You can proceed there to address your issue.

You can reach Cash App's support team at 1 (800) 969-1940 or Contact Support Services for your bank, credit card, or whichever financial institution or platform through which you suspect you made a fraudulent payment.

Cash App makes moving your money simple, and that simplicity may let us forget how easy it is to be scammed. There’s no shame in being tricked out of your money — it can happen to anyone. Learn more preventative steps you can take here.