There seems to be no shortage of identity theft and compromised information in America. According to a report from AARP, identity fraud cost adult Americans a collective $43 billion in 2023 — and that train seems to be rolling on in 2024.
If you use the popular online payment app, Cash App, you could very well be owed a fat check for $2500.
This year, Cash App was part of a major class action lawsuit. They settled for $15 million dollars, which can be split up to a maximum of $2500 per person.
56 million people could be eligible for this refund, since that’s how many Cash App users there are. The reason for the class action settlement is that they failed to take steps to block unauthorized users and protect consumers’ data.
Translated into layman’s terms, that means they didn’t protect your information — and now they must compensate those effected.
There is a website set up for users to apply for their refunds, and the deadline for applying to claim payments is Nov. 18, 2024.
If you think you were effected by this major data breach by Cash App you have to provide documentation that it happened. You can claim money for reimbursement for losses related to identify theft, credit tracking and fees.
It is important to note that when something like this is settled out of court, it doesn’t mean that Cash App admits guilt in this matter. It just means they would rather toss some money at the problem to make it go away, so they can proceed with normal business operations.
The largest major payment apps used in America are Google Pay, Apple Pay, PayPal, Cash App, Venmo and Zelle.
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