Couple loses thousands to Cash App fraud

We’ve had fraud protection for years

SAN ANTONIO (KABB) – A couple believed that a popular application used to transfer money was secure to use However, criminals could take several thousand dollars.
They were disappointed that their credit union’s fraudulent department wasn’t able to cover their losses, So they contacted Fox San Antonio’s Problem Solver Darian Trotter to get help.
It was a typical morning for the Wrights when Cynthia was contacted by a distressing message from the credit union.
« The company claimed there was suspicious activity in our account, and asked whether we were from the U.K. »
The group was in San Antonio.
Cynthia phoned her husband Joseph to ask whether he’d bought anything on the internet.
« If he didn’t say no, it was not him, I panicked immediately. » said Cynthia Wright. « Like oh my god, what’s happened. »
It turns out that 11 deposits in the amount of 300 and $500 have been taken from their bank accounts.
Thieves made use of Cash App, a popular mobile service that allows you to transfer money to collect the sum of $4,000.
The fraudulent act occurred during four days. The money was transferred to the same company in another country.
« I was completely upset, » Wright states.
The Wrights were furious that Baptist Federal Credit Union didn’t notify them earlier.
« If I go out to shop and spend $500, the person who called me or him instantly and we’re a few days later, » Cynthia Wright stated. « So it shocked me to the core. How come there are 11 transactions that are not authorized that nobody is aware of? »
It’s good to have security against fraud, or at least they thought.
They contacted Cash App and tried filing an account through the credit union.
« It was moving back and forth, not it’s not the bank. No is it Cash App, no it’s the bank., » Wright declared.
Jason Meza said, « Not entirely surprised. It’s a common tale now. »
Jason Meza with the Better Business Bureau states that mobile app fraud that transfers money is increasing within South Texas.
He’s heard of cases where customers have suffered losses of $10,000 or more.
« It is something that’s happening, » Meza stated. « We suggest that individuals must do their homework prior to entering into a situation in which they could be pushed into the same situation. »
He suggests you review your financial institution’s policies before using third-party cash transfer services, such as Cash App.
The writer discovered the fact, in an email sent by the head of their bank, that any losses that result from the applications that are the third party are not covered by fraud protection.
« We’ve been covered by fraud protection for a long time and now that we require it, no one can help us. » Wright declared.
The Wrights claim the family immediately made a police complaint and tried unsuccessfully to recover the money they paid back for an entire year.
Things changed when we got involved.
The credit union recently granted credit for each illegal Cash App purchase.
In an announcement, Baptist Federal Credit Union President Nick Holguin now says, « Fraud in mobile payment services is covered by their bond. »
« I can’t believe it, I could barely sleep last night, » declared Cynthia Wright.
We reconnected with the Wrights after three weeks to discuss the great news.
Baptist Federal Credit Union says that because the debit card they had was tied directly to the Cash App, their fraud claim was treated as a debit card fraud.
« We really appreciate it, we tried and tried to no avail, it didn’t happen until you guys were involved, » Wright stated. « So, thank you so much. »
« Experts suggest connecting the credit card in lieu of debit cards peer-to-peer services such as Cash App, » explained the Problem Solver Editor Darian Trotter. « Because they say it’s easier to recover funds lost due to fraud. »
In the years since the Problem Solver series began, Darian has been able to help people recover the equivalent of $200,000.

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