Payment App Scams: A Threat to Military Families

Published: July 18, 2023

Hey there, military families! We’ve got some eye-opening information for you about payment apps like Venmo, Zelle, and PayPal. Turns out, scammers are on the prowl, aiming to hack into your bank accounts. A recent report from the Consumer Financial Protection Bureau (CFPB) sheds light on this alarming trend. But don’t worry—we’ve got your back with some essential facts to keep you safe from cybercrime the next time you use these apps to settle a dinner bill with a friend.

Let’s dive into what our friends at the CFPB have discovered:

  • Since 2011, veteran and military families have submitted more than 323,000 consumer complaints to the CFPB. That’s a significant number, highlighting the importance of staying alert when it comes to your personal finances.
  • Last year alone, complaints spiked by a staggering 55%, with over 1,100 complaints specifically related to digital payment apps. This surge is definitely cause for concern, and we can’t stress enough how crucial it is to be vigilant.

It’s disheartening to learn that some service members have experienced serious financial harm due to these issues. These consequences can have far-reaching impacts, potentially affecting their ability to continue serving or even maintain their security clearance. We understand the gravity of the situation and want to help you safeguard against it.

The CFPB report also reveals that service members’ steady income makes them attractive targets for identity thieves who want to gain unauthorized access to their bank accounts through payment apps. Unfortunately, many service members have reported that digital payment app providers often fail to offer timely and effective resolutions when problems arise. This can result in a frustratingly time-consuming process, and we know you have more important things to do than deal with that!

Fortunately, we have a solution for you: our friends at Aura, online security experts, have your best interests in mind. They offer protection plans designed to prevent your entire family from falling victim to hackers. And if the worst does happen and you get hacked, they’ll take care of it for you. That’s peace of mind right there!

Here’s some exciting news: Blue Star Families members can enjoy up to 50% off Aura protection plans. These plans include comprehensive identity theft protection, round-the-clock monitoring, alerts, and support. And guess what? You can even try out Aura for free with their two-week trial.

Don’t let potential threats lurk around the corner. Stay ahead of the game, whether you’re using a computer, smartphone, or any other device. Give Aura a try and keep your digital life safe and sound. You deserve it!

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