The ability to send cash all over the world is one of the most important innovations that have allowed the modern internet to thrive.
From paying bills quickly to purchasing from online stores, or just throwing your friends a quick $20 for some pizza, money transfer services and applications are used by millions on a daily basis.
There are some pitfalls to using these services, however.
Not all of these services are fully secure and a breach of your personal data could result in a nasty surprise when you next go to check on your bank account.
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A Class Action lawsuit alleges that one of the biggest players in the money transfer space was negligent with user data, allowing an employee unauthorized access to private account data back in 2022.
Another similar incident is also said to have occurred in to 2023.
The lawsuit targets Cash App, which is a big name in online payment systems, boasting over 56 million monthly active users.
A class action legal settlement could result in a big chunk of money for some of the users affected by the alleged data breach.
Figures of up to $2,500 have been suggested for each customer affected by the issue.
Cash App customers are eligible to submit a claim for part of the Cash App settlement if they meet any of the following criteria.
You are a current or former customer of Cash App or Cash App Investing, and your personal information, Cash App account or Cash App Investing account was accessed or obtained without your authorization.
If Fraudulent or unauthorized withdrawals or transfers were taken from or put into your account.
You experienced a deficiency in the resolution of an error in a Cash App account, or any linked financial account.
Customers who experienced any of these between August 23, 2018 and August 20, 2024 can submit a claim to take part of the $15 million proposed settlement. Claims may be submitted online using the official website, or by post. The deadline for submission is November 18, 2024, at 10:59:59 pm P.T.
Up to $2,500 per person is available for out-of-pocket losses, along with $25 per hour for reimbursement of lost time.
Affected customers can also claim for documented transaction losses. Third-party documentation will be required for out-of-pocket losses or transaction loss claims.