The Department of State is warning people to be weary of payment app scams costing consumers millions
Secretary of State Walter Mosley says payment apps such as Venmo and Cash App are risky. He said the Division of Consumer Protect provides consumers with tips to protect their money while using these apps and others like them. In 2024, consumers nationwide reported over $390 million in losses to the U.S. Federal Trade Commission from scams that used payment apps. This is over $100 million more than what consumers reported losing in 2023.
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