New York Class Action Settlement for Cash App Users
Cash App users, both current and former, have the opportunity to participate in a proposed class action settlement that could result in a financial payout. The settlement stems from a lawsuit against Cash App Investing and its parent company, Block Inc., which agreed to pay $15 million to resolve allegations of inadequate protection of user information following a data breach.
Why Cash App is Facing Legal Action
The lawsuit against Cash App and Block was filed due to their handling of security breaches and their failure to implement sufficient measures to safeguard customers’ data. Two incidents, one in 2021 and another in 2023, compromised certain account information and led to unauthorized charges for many Cash App users.
How to Claim Your Settlement Payment
To receive a settlement payment, eligible individuals must submit a claim on the official Settlement Administrator’s website by the deadline of November 18. Those who were affected by unauthorized access to personal information or fraudulent withdrawals between August 23, 2018, and August 20 of the current year may qualify for compensation. Claims can cover various types of losses, including out-of-pocket expenses and time lost due to the security breaches.
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Protecting Your Data in the Future
In an increasingly digital world, safeguarding personal data is crucial. Creating strong passwords, using multi-factor authentication, and monitoring account activity are essential steps to take. It’s also advisable to stay informed about potential data breaches and be cautious of phishing attempts.
Additionally, utilizing services like free credit freezes and fraud alerts offered by credit bureaus can add an extra layer of protection against identity theft. When using payment apps like Cash App, Zelle, or Venmo, exercise caution and verify recipients before sending money.
By following these tips and staying vigilant, individuals can reduce the risk of falling victim to data breaches and fraudulent activities.
