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If you’ve ever used Cash App to send or receive money, you may be eligible to receive a portion of the $15 million class action settlement.
New Lawsuit The settlement alleges that the money transfer platform “failed to exercise reasonable care” in its efforts to protect customers’ personal information ahead of major data breaches that occurred in 2021 and 2023 that affected an estimated 8.2 million users.
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A 2021 lawsuit reportedly alleged that Cash App employees downloaded user information on the backend without authorization.
Other allegations in the lawsuit allege that Cash App and its parent company, Block, were “negligent” and “breached other obligations to users” by improperly handling customer complaints about unauthorized or fraudulent transactions made on their accounts.
Both Block and Cash App have denied any liability for the allegations.
Who is eligible to receive the payment?
Cash App users who have an account on the platform and whose personal information was accessed without authorization or who were victims of fraudulent transactions on their account between Aug. 23, 2018 and Aug. 20, 2024 are eligible to file a claim.
Those who wish to receive the settlement money should Settlement Manager’s website From now until November 18th.
How much can Cash App users receive?
Those who receive part of the settlement could receive up to $2,500, depending on their eligibility and the number of people who file claims.
Clients can submit claims in three areas: out-of-pocket losses, trading losses and business interruption losses.
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If you submit a claim for actual expenses losses, you can receive up to $2,000, if you submit a claim for lost work time, up to $25 per three hours, and an unspecified amount for trading losses.
“Block and Cash App Investments have also agreed to certain material enhancements to data security,” the settlement administrator’s notice said, without specifying what enhancements will be made.
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