Cash App Scams Strikes Again With New Types of Attacks

TradeArabia has published a report about common scams on CashApp, explaining that scammers frequently take advantage of CashApp promotions, like the weekly money giveaway, “Super Cash App Friday.” The scammers will impersonate CashApp and message users over social media, telling them that they’ve won the money. The scammers will then request a transfer fee from the victim.

Another common scam is impersonating CashApp support: “Scammers may set up fake support accounts on social media or use SEO poisoning to get fake websites featuring phony “Cash App support” phone numbers at the top of search results. When a user clicks through and rings up with a genuine complaint/request, they’re asked for log-in info, enabling the fraudster to hijack and clear out their accounts.”

TradeArabia offers the following advice to help users avoid falling for these attacks:

• “Stay phishing aware: Never click on links or reply to unsolicited emails, texts or social media messages. Note that legitimate cash app emails only come from @square.com, @squareup.com, or @cash.app. And the firm’s support team will never request a sign-in code, PIN, Social Security Number (SSN), a payment or the downloading of a remote access app.
• “Optimise account security: Turn on two-factor authentication in any linked email account, switch on notifications in Cash App to track payments and ensure that a passcode is required when making any payment.
• “Secure your mobile device: Add a strong password or PIN and/or biometric authentication for lock-screen security.
• “Never send money to people you don’t trust: Be sceptical of any requests – however small – for ‘deposits,’ payments in exchange for ‘free’ cash and similar.
• “Minimise risk: Limit the amount of money stored in the Cash App account.
• “Don’t Google Cash App support: Use the in-app chat function or these official channels suggested by the app.”

All of this is good advice, but the real defense is found in sceptical, aware employees, and those can be trained. New-school security awareness training can give your employees a healthy sense of suspicion so they can thwart these types of scams.

TradeArabia has the story.