Consumer Reports says TikTok influencers making incorrect claims
There is an incorrect claim going viral on TikTok that you can get free money from peer-to-peer payment platforms like Cash App or Zelle. Here’s how to keep your money safe.Victims of scams on these cash apps might try anything to get their money back. Enter social media influencers Daraine Delevante and Gilbert Graim Jr., who have racked up millions of views incorrectly claiming that filing a complaint with the Consumer Financial Protection Bureau will get people a payout from these companies, even claiming people can be compensated even if they weren’t a scam victim.”Whether it happened to you or not, go put in a claim, because they’re going to have to run you that check,” one of the videos claimed.The influencers make it sound easy, even offering complaint templates for $77 and things like a credit repair guide for $24.99.”With the CFPB losing funding, there’s just not as much oversight right now, and these influencers are jumping on that, going after people who are already struggling financially,” Derek Kravitz, Consumer Reports’ investigative reporter, said.Graim did not respond to Consumer Reports’ request for comment. Delevante said Cash App and Zelle are unfairly targeting him to divert attention away from their own shortcomings in combating online fraud and scams.”If you bought their financial products or followed their advice, definitely consider filing complaints with the CFPB, the FTC, and your state attorney general,” Kravitz said.Zelle has released a statement: “Consumers were duped through social media into filing complaints based on a fabricated settlement.” Cash App, meanwhile, says it has “made significant improvements to how we identify and act on customer complaints.”Consumer Reports has tips to keep you safe from payment platform scams:Be skeptical of posts promising easy money. Scammers use urgency and emotion to trick you.Before sending money online, slow down. Double-check who you’re paying and what you’re paying for.Consumer Reports also recommends that when filing a complaint, people should include dates, amounts and bank statements. Specifics strengthen a complaint case.
There is an incorrect claim going viral on TikTok that you can get free money from peer-to-peer payment platforms like Cash App or Zelle. Here’s how to keep your money safe.
Victims of scams on these cash apps might try anything to get their money back. Enter social media influencers Daraine Delevante and Gilbert Graim Jr., who have racked up millions of views incorrectly claiming that filing a complaint with the Consumer Financial Protection Bureau will get people a payout from these companies, even claiming people can be compensated even if they weren’t a scam victim.
“Whether it happened to you or not, go put in a claim, because they’re going to have to run you that check,” one of the videos claimed.
The influencers make it sound easy, even offering complaint templates for $77 and things like a credit repair guide for $24.99.
“With the CFPB losing funding, there’s just not as much oversight right now, and these influencers are jumping on that, going after people who are already struggling financially,” Derek Kravitz, Consumer Reports’ investigative reporter, said.
Graim did not respond to Consumer Reports’ request for comment. Delevante said Cash App and Zelle are unfairly targeting him to divert attention away from their own shortcomings in combating online fraud and scams.
“If you bought their financial products or followed their advice, definitely consider filing complaints with the CFPB, the FTC, and your state attorney general,” Kravitz said.
Zelle has released a statement: “Consumers were duped through social media into filing complaints based on a fabricated settlement.”
Cash App, meanwhile, says it has “made significant improvements to how we identify and act on customer complaints.”
Consumer Reports has tips to keep you safe from payment platform scams:
- Be skeptical of posts promising easy money. Scammers use urgency and emotion to trick you.
- Before sending money online, slow down. Double-check who you’re paying and what you’re paying for.
Consumer Reports also recommends that when filing a complaint, people should include dates, amounts and bank statements. Specifics strengthen a complaint case.