Steer Clear of These Common Venmo, Cash App and Zelle Scams

Digital payment apps like Zelle, Venmo, Cash App and PayPal make sending money to others a breeze. Scammers know this, which is why they often ask victims to use them. Since Zelle launched in 2017, customers at three banks lost over $870 million to scams on the app, according to a lawsuit filed by the Consumers Financial Protection Bureau. And that's just Zelle users at three banks. Even worse, getting your money back can be nearly impossible once you send it on a digital payment app. Keep your money out of scammers' hands by taking a look at their favorite scheme so you know what to watch out for. Read more: Beware of These Common Banking Scams 9 common digital payment app scams Con artists are creative, but many digital payment scams fall into the following general categories. 💰 Cash flipping scam You get a DM from someone on Instagram or another social media platform with an appealing offer: "Send me $100, and I'll use an app partnership to turn it into $500 in days." Sounds ... Read full article.