With the rise of mobile payment app scams through apps like Zelle, Venmo, and Cash App, sending and receiving money has never been more convenient. But with this convenience comes increased risk, as
scammers target these platforms to trick users into making unauthorized payments or revealing
sensitive information. Whether you’re paying a friend or making a quick online purchase, it’s
essential to know how to protect yourself from these common scams.
In this week’s Tech Tip Tuesday, we’ll explore how to stay safe while using mobile payment
apps, the key security features to use, and the most frequent scams to watch out for, so you can
enjoy the convenience without the risk.
Top Security Tips for Mobile Payment Apps:
- Double-Check Payment Details: Always verify the recipient’s phone number or email before
sending money. Once you authorize a payment, it’s usually irreversible, and scammers rely on
this to make a quick getaway with your funds. - Only Send Money to Trusted Contacts: Use apps like Zelle and Venmo to transfer money
only to people you know personally. Fraudsters often pose as buyers or sellers in online
marketplaces, requesting payments through these apps. - Enable Two-Factor Authentication (2FA): Strengthen your app security by enabling 2FA
wherever possible. This adds a second layer of protection, requiring you to verify your identity
before completing a transaction. - Avoid Sharing Sensitive Information: Never provide personal information, passwords, or
payment app credentials in any message or call. Scammers often impersonate company
representatives to trick you into giving up this data. - Activate Transaction Alerts: Set up real-time notifications for all your transactions. This way,
you’ll be instantly aware of any unauthorized activity.
Common Mobile Payment App Scams:
- Authorized Push Payment (APP) Fraud: Scammers will try to trick you into authorizing a
payment by posing as someone you trust, like a friend or company. Always confirm requests
through a direct phone call or message to the person involved before sending any money. - Fake Buyer/Seller Scams: Online marketplaces are a hotbed for fraud. Scammers may pose
as buyers or sellers, convincing you to send payment for goods or services you’ll never receive.
Stick to official channels and avoid using payment apps for transactions with strangers. - Phishing and Smishing: Be wary of emails or text messages claiming to be from your
payment app, especially if they ask you to log in or verify information via a link. Always go
directly to the app to confirm any suspicious requests. - Vishing (Phone Call Scams): Scammers might impersonate bank representatives or app
support, urging you to confirm your payment details or authorize a transfer. Hang up and verify
the call through official app support channels. - Fake App Support Scams: Some fraudsters may claim that there’s a problem with your
account and request your login credentials or ask you to send money to “test” the system.
Always reach out directly to the app’s customer service.
Advanced Scam Techniques:
- Credential Stuffing: Cybercriminals use automated tools to test millions of stolen username
and password combinations across various accounts, hoping you’ve reused the same
credentials. Protect yourself by using unique passwords for your payment apps. - Password Spraying: Similar to credential stuffing, scammers will attempt to log into your
accounts by testing the most commonly used passwords. Using complex, unique passwords,
along with 2FA, can help prevent this type of attack.
Mobile payment apps offer a great deal of convenience, but they also present unique security
risks. By following these tips and staying aware of the latest scams, you can safely enjoy the
benefits of instant, hassle-free money transfers while keeping your funds and personal data
secure.
