THE SIREN
PUBLISHED FOR MEMBERS OF MIAMI FIREFIGHTERS FEDERAL CREDIT UNION • OCTOBER 2020
Best Practices for
Using Any Cash App
It’s never been easier to send and transfer money directly from your mobile device. From splitting dinner to sending money to a friend or family member, cash apps like Zelle, Venmo, Cash App and others have revolutionized how consumers move money. Paying in a snap with any cash app is a wonderful convenience.

We want to help you keep your money safe. Here are a few tips you can follow to help you to avoid fraud. 
Protect sensitive information

Fraudsters attempt to steal customer data using fake phone numbers and emails, pretending to be that app’s representative. Our staff will never ask you for your sign-in code over the phone, on social media or through any other medium. We will never ask you to send us a payment or provide sensitive information or your Social Security number.
Before sending a payment, we strongly recommend:

  • Most important - Only send to people you know - it is best used for friends and family
  • Verify the recipient’s name before sending
  • Double-check the recipients phone number or email for typos
  • Create a passcode for your mobile phone
  • Enable the security lock setting so that every payment you send out requires your passcode
  • If a deal sounds too good to be true, it is
When sending a payment:

  • Send using the email address rather than the phone number for two reasons. First, people often change their phone number. If someone else owns that phone number, your money is gone. Second reason is that people often type incorrect phone numbers.
  • If sending for the first time, send a small amount, say $1. Verify your friend receives it, then send the rest. This way you are able to make sure it is going to the correct address and their bank account is up to date.
Common Types of Scams

Cash Flipping
Scammers will often claim to be able to “flip” your money. The idea is to first send them funds, often called a “clearance fee”. Scammers will not send you anything in return. 

Concert Tickets
Scammers will often offer concert tickets. After negotiating the price, the scammer requests payment via a cash app. Once the money is transferred, the scammer disappears.

Puppy/Pet Deposit Scam
Scammers will claim to have an upcoming litter and request a deposit to secure one of their animals. Usually you will see fake photos of highly sought after animals at an extremely low price. Don’t send strangers money through your cash app.

Apartment/Home Rentals
Fraudsters promise to find you a cheap apartment or home, usually at a much lower rate than normal. They will ask for a deposit with or without an application.

Phishing
Defrauders have now taken to social media to message you with a telephone number you recognize, or a number you think is legitimate, to ask you for money or involve you in a ‘deal’. If it sounds fishy, it is.
Join us at our Annual Meeting
Date: October 22, 2020

Time: 4:00 pm

Location: Virtual -
A link will be posted on our website by 10/15.
All members are invited to attend the credit union’s 84th Annual Meeting.
Holiday Closing
Columbus Day
October 12, 2020
Thank you for your loyalty and continued commitment. 
305.324.4004 • 1.800.426.3324 • Fax 305.324.7585

Federally insured by the National Credit Union Administration