Whether the scam is new, or just gaining more attention, it is definitely something you need to be wary of.
Cash sharing apps like Venmo, Zelle, or CashApp have become very prevalent in todays credit focused society.
And with their gaining popularity more and more scams are becoming known. But one is being talked about more than any other. It has to do with an “accidental” deposit into your account. Which is not really accidental at all.
Here’s how the scam works:
Someone sends money to your Venmo or Zelle account.
Then casually asks for it back saying it was a mistake.
When you return the money you are really sending your own cash.
The money they sent disappears, since it came from a now invalid credit card that the original holder has just canceled.
And with money apps, anything you send is gone. There is no way to get it back, therefore they escape with your hard earned money.