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TPD warns of new scam involving CashApp/Venmo

FILE PHOTO: Venmo is changing the way its fees work. Instant transfers may cost more.
FILE PHOTO: Venmo is changing the way its fees work. Instant transfers may cost more.(Source: CNN)
Published: Sep. 27, 2021 at 1:18 PM EDT
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TALLAHASSEE, Fla. (WCTV) - The Tallahassee Police Department is warning about a new trick thieves are using to steal money from people, right under their nose. The scam preys upon the victim’s kindness and willingness to help a stranger in need.

In each case, the victim is approached by someone who claims to be stranded after their car broke down. The scammer asks to borrow the person’s cell phone to call a tow truck. After the victim hands over their phone, the scammer secretly uses it to send themselves money from the victim’s CashApp or Venmo account.

Investigators say they’ve received multiple reports of the scam in the last several weeks. Victims have reported losing up to $800.

Officers recommend you avoid handing over your phone to a stranger and offer to make the call for them instead. Police also encourage you to activate an added security layer that requires a four-digit passcode before you can make a transaction on your financial apps.

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