Lawmakers urge Venmo, Cash App to make fraudulent activity public

It’s the height of the holiday season and as you look for last-minute gifts, you might be using mobile apps to make those final purchases.

However, these online transactions may put your wallet at risk.

Cox Media Group’s Arielle Hixson spoke with Ohio Senator Sherrod Brown (D) about the protections he wants to put in place.

Today, many shoppers like the convenience of Venmo and Cash App.

They’re easy, fast, and can get money from one place to another in the blink of an eye, until you get scammed.

“We hear from people all the time that they’ve been scammed, and they don’t know what to do about it,” Brown said.

In some cases, shoppers accidentally send money to a scammer but are unable to get reimbursed.

According to a recent survey by the PEW Research Center, Black and Hispanic groups are twice as likely to be scammed.

Those in lower-income groups are vulnerable as well.

A group of United States Senators wrote a letter to Venmo and Cash App, urging them to act.

They want more protections in place to make sure your money is safe.

Senators Sherrod Brown, Bob Menendez, and Elizabeth Warren want these companies to make information about any fraudulent activity public.

“We just want them to be honest and reimburse people. Make people whole after they have been scammed,” Brown said.

Lawmakers also want to know what steps companies are taking for protection.

Zelle, another payment app, has already taken steps to reimburse its customers.

News Center 7 reached out to both Venmo and Cash App but has not received a response.

To make sure you’re protected while using these apps, put a security lock on your phone.

Also, double-check profiles to make sure you’re sending money to the right person.

If you’re a victim of a scam, contact the app’s support team.

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