Digital Money Scam: How To Avoid It?

Sending money is easy now. Smartphones and instant money transfer services are all you need. These mobile cash apps can trick users.

All phoney cash apps seek your money by calling, texting, emailing, or contacting you through the app. They'll try these methods to get in:

They say they work for the government. Salespeople call to sell you something. They say your "account has been broken into."

They try to sell "unauthorized, untrustworthy cryptocurrency sites or sellers." They might even ask you to send money to themselves or say they accidentally sent you money.

"Con artists may pose as friends or family members in need and ask for money. "You won a prize or contest, but you have to pay a charge," someone might say.

The FTC describes these scams:

Do not send any money in response to any sweepstakes or reward offers. Keep your account info private.

If you send money through a mobile payment app, keep this in mind:

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Use a PIN or two-factor authentication to protect your account. Make sure you're sending money to the right person by double-checking the recipient's information.

If someone you know asks for money from you out of the blue, you should talk to them to make sure it's really them and not a hacker who got into their account.

Have you fallen for a scam? Tell your bank and local police right away, and also let the FTC know.