TAMPA, Fla. — 10 Tampa Bay is working to protect your pockets. If you use mobile payment apps — think Venmo, Cash-App, or Zelle — then you need to hear about this scam alert.
According to the Better Business Bureau, scams related to those apps are on the rise.
While mobile payment apps are easy and convenient for sending and receiving money with your phone, they're also popular among scammers trying to get into your accounts.
If you use Facebook Marketplace, you may have already seen this at play with buyers and sellers offering a great price, but insisting they'll only accept Zelle.
At the root of the problem, according to the BBB, is that scammers lean on these apps because once you send any funds, it's difficult for you to get your money back.
Experts with the BBB said it's also possible those scammers are trying to send you a phishing link disguised as communication from Zelle or Venmo to get into your account and steal your money.
BBB spokesperson Bryan Oglesby explained, "Scammers will do what's called 'spoofing or impostering' legitimate brands like, in this case, Zelle or Venmo.
And you'll get an email from those peer-to-peer apps claiming that your account has been hacked or some kind of 'act now' email where they want you to click on a link. It will take you to a landing page that looks like that app, and then will ask you to log in with your username and password. And that's a fake landing page."
"We are seeing a rise in peer-to-peer payment apps in scams, mostly because consumers think it's a secure method of payment," Oglesby said. "And what they don't understand is there are no protections in place. It's just like handing the scammer cash."
Reg flags to watch out for, according to the BBB include someone pressuring you to act quickly, forcing you to pay upfront for a product, or offering a deal that's too good to be true.
If you're still concerned about being targeted, the BBB suggests never using a mobile payment app with anyone you don't know personally.