When you’re in the middle of the holiday season and looking for that last-minute gift, you might be using a mobile app to make your last-minute purchases.
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However, these online transactions can put your wallet at risk.
Today, many shoppers love the convenience of Venmo and Cash App.
Cox Media Group’s Ariel Hixson spoke to Ohio State Sen. Sherrod Brown (D) about the safeguards he would like to see put in place.
They are easy and quick and can get you money from one place to another in the blink of an eye until you get scammed.
“I hear from people all the time that they’ve been scammed and don’t know what to do,” Brown said.
In some cases, shoppers may accidentally send money to a scammer and may not be able to get a refund.
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According to a recent study by the PEW Research Center, Black and Hispanic groups are twice as likely to be scammed.
Low-income groups are equally vulnerable.
A group of U.S. senators sent a letter to Venmo and Cash App, urging them to take action.
They want to introduce more protections to make sure your money is safe.
Sens. Sherrod Brown, Bob Menendez, and Elizabeth Warren are calling on these companies to release information about their fraud.
“We just want them to be honest and compensate people. Let’s make the people who were scammed feel better,” Brown said.
Lawmakers also want to know what steps companies are taking to protect themselves.
Zelle, another payment app, has already taken steps to refund customers.
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News Center 7 has reached out to both Venmo and Cash App but has not received a response.
To ensure you’re protected while using these apps, set a security lock on your phone.
Also, double-check your profile to make sure you’re sending money to the right person.
If you’ve been a victim of a scam, please contact the app’s support team.