Fintech
Cash App to Distribute $15 Million in Security Breach Settlement: How to File a Claim
Cash App users may soon see some funds deposited into their bank accounts as part of a recent settlement.
Cash App users may soon see some funds deposited into their bank accounts as part of a recent settlement. The mobile payment service has been ordered to pay $15 million in damages following a class-action lawsuit.
The lawsuit, reported by USA TODAY, accuses Cash App Investing and Block Inc. of failing to adequately protect consumer information. The breach in December 2021 led to the unauthorized public release of personally identifiable information for 8.2 million current and former Cash App Investing customers. Additionally, a former employee accessed and downloaded personal data from Cash App users without their consent.
If users experienced unauthorized or fraudulent withdrawals or transfers from their Cash App accounts between August 23, 2018, and August 20, 2024, they may be eligible to file a claim for compensation up to $2,500.
Here’s what you need to know about filing a claim in the Cash App settlement:
Do I Qualify to File a Claim? To be eligible, users must have had an account on August 23, 2018, and before August 20, 2024. Eligible users are those who have not already been compensated by Block Inc., Cash App Investing, or any third party.
What Types of Claims Can Be Filed?
- Out-of-Pocket Losses: Users can claim reimbursement if their Cash App account was affected by the breach. Upon submission of the required documentation, eligible users could receive up to $2,500.
- Lost Time: Users may be compensated for up to three hours of time spent addressing issues related to the breach, at a rate of $25 per hour.
- Transaction Losses: Users who incurred financial losses and have not been reimbursed can file a claim for transaction losses.
What If I Have Multiple Cash App Accounts? Users should submit only one claim form. If you have multiple Cash App accounts, list all relevant $Cashtags and information about your claims on a single claim form.
How Can I Submit a Claim? To file a claim, complete the claim form and submit it by November 18, 2024. The claim form can be submitted online.
