Payment App Scams (Zelle, Venmo, Cash App)

Zelle, Venmo, and Cash App are all legitimate payment services. However, their design features make them extremely attractive to scammers: **Why Scammers Target Payment Apps:** • Transactions are instant (no time to reverse) • Payments to individuals have little/no buyer protection • Money transfers like cash - once sent, it's gone • Easy to create fake or anonymous accounts • Difficult to recover funds after transfer **The Critical Distinction:** These apps are designed for sending money to **people you know and trust**. They are NOT designed for: • Buying from strangers • Paying for online purchases • Receiving payments from unknown buyers • Investment or business transactions **Most Common Scams:** 1. **Fake Payment Notifications** - Scammer sends fake email/text saying "You received $500" with a phishing link 2. **Overpayment Scam** - Scammer "accidentally" sends too much, asks you to return the difference (original payment reverses) 3. **Impersonator Scam** - Scammer poses as your bank, utility, or government agency demanding immediate payment 4. **Fake Customer Support** - Scammer claims to be from Zelle/Venmo/Cash App to "fix" an account issue 5. **Marketplace Scams** - Scammer asks for Zelle/Venmo payment for items that don't exist 6. **Money Flip/Investment Scams** - "Send me $100, I'll send back $1,000" **Key Fact:** If you authorize a payment yourself (even if tricked), recovery is extremely difficult. Banks generally don't refund "authorized" fraud.