In a significant development for Cash App customersyou may be entitled to more than $2,500, a lot of money, each as part of a significant Settlement in class action lawsuit for $15 million in connection with data and security breaches at the popular mobile payment service.
If your account has been accessed without your authorization or if you have experienced fraudulent withdrawals or transfers, you are entitled to make a claim. This applies to people who had or currently have an account between 23.08.2018And 20 August 2024says the settlement’s website.
Background to Cash App processing
This class action lawsuit goes back to a Incident 2021 The company disclosed a data breach in 2022 in which a former employee downloaded reports of some US users without permission. In addition, another data breach was disclosed in 2023 in which an unauthorized user accessed certain Cash App accounts through linked phone numbers.
- Customers could receive a lot of money, over $2,500 every.
- The billing amount is 15 million US dollars.
- Eligibility includes accounts of 23 August 2018 to 20 August 2024.
- The lawsuit points to two significant security breaches.
If you believe you are eligible, file your claim immediately to benefit from this compensation.
In a recent legal development, plaintiffs have claimed that CashApp and its parent company, blockfailed to implement adequate controls to prevent unauthorized users from accessing accounts. In addition, the plaintiffs argue that the company mishandled customer complaints about security breaches and fraudulent transactions.
Strengthening data security
As part of the agreement CashApp And block have committed to taking steps to improve their data security protocols. The goal of this step is to provide better protection to users and prevent future security issues.
Settlement agreement
While CashApp And block They have denied any wrongdoing and agreed to a $15 million settlement to resolve the dispute. After legal and administrative fees, the remaining amount will be paid to affected customers who have legitimate claims.
How to file a Cash App claim to get your money
If you are an affected customer, you may file a claim by visiting the designated website: https://www.cashappsecuritysettlement.com/. To proceed, you will either need to enter a notification ID and verification code from a notification sent by mail or email, or file a claim even if you did not receive such a notification.
Deadline for filing a Cash App claim to receive funds
Customers have until 18 November to make a claim under the settlement. Make sure you file your claim before the deadline to be eligible for compensation.
Wondering how much money you could receive under the recent settlement? The exact amount is still uncertain and will largely depend on the number of people who file claims. However, there is some clarity regarding potential refunds.
Claim your money
If you were affected by the data and security breaches, you may be entitled to claims of $2,500 cover Losses out of your own pocketTo qualify, you must provide: Third-party documentation to support your claim, as set out on the settlement website.
Expenses that may be reimbursed include:
- Costs for Credit monitoring or Identity theft insurance.
- Fees for applying for a Credit report or the initiation of a Credit freeze.
- Costs associated with blocking a payment card or obtaining a replacement card.
- Costs associated with closing a bank account and opening a new account.
- Not refunded Overdraft fees.
- Not refunded Fees for late or missed payments or fees.
Compensation for lost time
In addition to the expenses, customers can claim up to three hours of lost time, which will be compensated with 25 USD per hoursays the comparison details.
Stay informed and make sure you gather all the necessary documentation to maximize your claim. Settlement offers the opportunity to recoup some of the losses incurred as a result of the breach, so take full advantage of this opportunity.
Are you a Cash App user who suffered a transaction loss? You can file a claim for reimbursement. To do so, you must submit the necessary documentation, such as a copy of a police report.
What happens if the compensation fund cannot fully settle all claims?
If there is not enough money in the settlement fund to fully cover all approved claims, payments will be made at a reduced proportionate Base.
What other options do I have?
When weighing your options, you can take the following paths:
- Opt out: If you wish to exclude yourself from the settlement, you may choose to “opt out” before November 1. This will allow you to file a lawsuit against the defendants in the future or participate in another related lawsuit.
- Object: You can also object to the settlement agreement in writing to the court before November 1 if you believe the settlement is unfair or inadequate.
- Do nothing: Finally, you can choose to do nothing. However, if you do nothing, you will not receive any payments and may also give up the right to file another lawsuit with claims covered in the settlement.
Weigh your options carefully to determine the best course of action for your situation.
