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Beware of scams involving cash apps!

Beware of scams involving cash apps!

Slovenian has seen an alarming increase in scams involving cash apps like Venmo, Cash App, and Zelle that allow you to send or receive payment through your smartphone. These cash apps link to your bank account and can be used to pay for things in stores, to pay other people, or even to take payments from others.

The apps themselves are safe to use — especially if you turn on two-factor identification — and many people find them convenient. However, they represent a new technology for scammers to try and get people to send them money using age-old tactics. Be on the lookout for text messages or emails that claim things like:

  • You’ve won a prize or sweepstakes and need to deposit money to collect
  • A loved one is sick, in trouble, or stranded and needs money immediately
  • The IRS wants to collect tax money immediately, or something dire will happen
  • Your computer is about to fail, but if you send money a technician will fix it
  • You should use your cash app to reload a gift card for a large reward

Almost always, these messages sound urgent, and like something terrible will happen if you don’t respond immediately. Log into the app and see if anyone is requesting you send them money — if not, it is almost certainly a scam. And as always, NEVER give out your user ID or password. 

If you have any questions or think you’ve been the victim of a scam, contact your local Slovenian Savings & Loan branch.

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