Worried about Cash app breach? These 6 steps can secure your personal and financial data

Cash App is the latest company to be sued for failing to protect users’ personal and financial data. The peer-to-peer payment platform and its parent company Block recently agreed to a $15 million class action for failing to protect against unauthorized access to Cash App customers’ accounts in 2022.

As a frequent user of the Cash app, the news worried me about my banking information being stored and used as a starting point for transactions, so I reached out to a cybersecurity expert to learn how to better protect myself .

“One of the biggest problems with money apps like this is their popularity,” said Neal O’Farrell, a digital security expert and member of the CNET Money review board. “Hackers follow the crowds, and the more people using these apps, the more time criminals will spend trying to exploit them.”

The Cash app actually has a number of security features. The problem is that while they can help you avoid scams, they won’t always prevent your data from being leaked. O’Farrell noted that even the best privacy protections can be neutralized by an insider with access, which is exactly what happened in case of Cash App.

Whether you want to avoid financial scams on the Cash app or want some options to protect your sensitive information once it’s been leaked, here are six security steps we recommend.

Read more: Cash app customers may be eligible for $2,500. Here’s how to claim your money

Secure your login

By default, the Cash app makes signing in more secure by sending a code to your phone number or email address every time you sign in. But there’s a catch – you’ll need to manually log out of your account after logging in, otherwise you’ll be able to access your account from your phone without a code. I logged out and was able to log back in without a code, which could be a problem if someone gets your phone and accesses the app. To be safe, I would recommend logging out when you’re done with your transactions.

You can use two-factor authentication as a second layer of protection for your account, but you’ll need to download a separate app like Google Authenticator.

Enable the “security lock” feature of the Cash app

To prevent hackers from trying to withdraw money from your account or request money from friends and family, you can create a security lock on your transactions. By enabling this feature, you will be asked to provide your fingerprint, ID facial or a specific password every time you want to send or transfer money. I’ve tested this feature on my own Cash app account and it takes less than a minute to set up. You can find it under the Security and Privacy tab. Here are the steps to enable security lock.

Monitor your transaction activity

Beyond protecting your data, it’s important to pay attention to your account activity. In the “Notifications” tab of the Cash app, you can enable push alerts to receive text messages and emails about your transactions. That way, you can track all your activity of payment and you can keep an eye out for anything suspicious.

Don’t send money to anyone you don’t know

From romance scams to tax scams, there are plenty of ways fraudsters can try to trick you into sending them money through the Cash app or other payment platforms. Experts recommend never sending money to people you don’t know, and verify their phone number or email address before hitting send. If you accidentally send money to the wrong person or find out you’ve been scammed with the Cash app, banks often won’t refund your money.

O’Farrell recommends being skeptical of any message you receive through payment apps. He commonly sees scams where someone might pose as a friend and ask for money or say you owe them money. Others may try to steal access to your app and money by asking you to verify your security code so they can fix a security issue with your account.

A few features can help you eliminate who you’re sending money to. The Cash app’s Incoming Requests option, found under the Security & Privacy tab, will only allow you to send money to the contact, rather than anyone in the app. You can also prevent others from finding your Cash App account by disabling the “$CashTag Cash.app” feature in the same security tab.

“Use all the security options they offer, even if it slows down transactions a bit,” O’Farell said. “You’ll be thankful you did.”

Make sure your email address is protected

If you use your email address to sign in to the Cash app, make sure it’s protected by turning on two-factor authentication. This will require you to provide a code each time you log in to your email. While this extra step may slow you down slightly, it will also make it harder for scammers to access your email and get into your Cash App account.

Receive breach alerts faster with identity theft protection

Identity theft protection is the best way to find out if your information has been leaked in a data breach. While it won’t prevent your data from reaching the Dark Web, identity theft services can alert you early if your data has been compromised and guide you through next steps, such as changing your exposed password or freezing your credit.

Identity theft protection usually comes with credit monitoring to alert you to any new accounts in your name so you can take action sooner.

Curious about identity theft protection? Aura is CNET’s top pick for keeping your data safe.