$15M Cash App data breach class action settlement (2024)

FAQs

How much will I get from the Cash App settlement? ›

If you are or have been a Cash App user, you may qualify for payments from a $15 million settlement against the app. The payment app and its parent company were sued over security breaches that affected their customers. Eligible consumers may receive up to $2,500 for out-of-pocket costs.

If you are eligible for a Cash App payout, you need to submit a claim form by Nov. 18, 2024. That means submitting your claim online or mailing it postmarked by that date. If you have claims relating to multiple Cash App accounts, list all of your information about your claims on a single claim form.

Claimants looking to get a payment from Cash App must be a "current or former customer of Cash App and/or Cash App Investing, or any of its affiliates, parents or subsidiaries, and your personal information, Cash App account, or Cash App Investing account was accessed or obtained without your authorization, or if you ...

The class-action pointed to a 2021 incident, which the company disclosed in 2022, where a former employee downloaded reports of some U.S. users without permission. It also noted another breach disclosed in 2023, when an unauthorized user accessed some Cash App accounts using phone numbers that were linked to them.

Current and former users of Cash App may be able to claim up to $2,500 as part of a $15 million settlement in a lawsuit over data and security breaches. Nancy Chen breaks down the suit, settlement and who may be eligible for a payout.

Banks may use intermediary banks to facilitate the transfer. Settlement: Settlement times can vary from one to four business days depending on the payment network and banks involved.

If users had unauthorized or fraudulent withdrawals or transfers of funds from their Cash App account between Aug. 23, 2018, and before Aug. 20, 2024, they are eligible to submit a claim for up to $2,500, the Cash App website said. Here is what you need to know about the Cash App settlement.

How can I submit a claim? To file a claim, Cash App users can submit a completed claim form by Nov. 18, 2024 for consideration. You can submit the claim form at https://cashappsecuritysettlement.com/submit-claim. Ahjané Forbes is a reporter on the National Trending Team at USA TODAY.

By AML Intelligence Correspondents FinCEN is investigating serious whistleblower claims that the US fintech Cash App has been operating with inadequate CDD processes. Two whistleblowers have reported that Cash App's inadequate CDD potentially facilitated money laundering and terror financing.

A second breach involving more customers took place in 2023 with Cash App's person-to-person payment services after the defendants failed to take security measures, according to a consolidated class-action complaint filed in February in United States District Court for the Northern District of California.

How to get free money on Cash App? ›

Referral programs on Cash App offer a fantastic opportunity to earn money by inviting friends. When your friends sign up using your referral code, both you and your friend receive a bonus. This win-win situation encourages more people to join, expanding the Cash App community.

In futures contracts, cash settlement typically involves determining the settlement price based on a reference rate, such as an index or a market price, at the expiration or settlement date. The difference between the settlement and contract prices is then settled in cash.

Cash settlement involves the purchaser or the contract holder to pay the net cash amount on the settlement date and execute the commodity settlement. The net cash amount is the difference between the spot price (SP) and the futures price (FP) of the underlying(s).

To view your balance online: Log into your Cash App account at cash.app/account. You can view your balance on the Activity or Money tab.

Refunded payments are generally returned instantly to your Cash App balance if the funds were sent from your bank or Cash App balance. If the funds were sent from your credit card, the funds will be returned to that card. The refund may also return to your card if it can't be returned to your Cash App balance.