Cash App Customers in New York Have Until Nov. 18 to Submit Claims for Compensation in Data Breach Settlement

Cash App users in New York impacted by unauthorized access to or accounts are running out of time to file compensation claims. Deadline, November 18, 2024, marks the final opportunity for eligible customers to participate in a $15 million settlement following a class action lawsuit that alleged Cash App’s insufficient data security led to breaches affecting millions of users. 

Background of Lawsuit 

class action suit, filed in February 2024, claims that Cash App failed to implement necessary security measures to prevent unauthorized access to users’ accounts, leaving millions vulnerable to fraud and data leaks. According to court documents, the lawsuit stems from two primary incidents: 

1. A December 2021 data breach compromised the personally identifiable information of approximately 8.2 million current and former Cash App Investing customers. 

2. Furr unauthorized access in 2023, where recycled phone numbers linked to Cash App accounts allowed a breach, allegedly due to internal security lapses. 

Se breaches allegedly exposed personal and financial information, putting Cash App users at risk. The company has since agreed to a $15 million settlement and committed to improving its data security, although it denies any wrongdoing. 

Who Is Eligible to Submit a Claim? 

Current and former Cash App users who experienced unauthorized access to ir personal information or fraudulent transactions between August 23, 2018, and August 20, 2024, qualify to file a claim. This includes users who had their accounts accessed without permission or who faced unauthorized withdrawals or transfers. 

What Compensation Can Users Receive? 

Compensation options under settlement include: 

• Out-of-Pocket Losses: Reimbursement of up to $2,500 for expenses such as credit report requests, credit freezes, or replacement payment cards. 

• Lost Time Compensation: Up to three hours at a rate of $25 per hour for time spent addressing unauthorized transactions. 

• Documented Transaction Losses: Compensation for losses tied to unauthorized events with supporting documentation, such as police reports or communication with Cash App about the incident. 

How to File a Claim 

To file a claim, impacted users can visit cashappsecuritysettlement.com/submit-claim. Submitting claims promptly will help ensure those affected receive appropriate compensation. 

Conclusion 

With the final claim deadline approaching, eligible New York Cash App customers are encouraged to act swiftly. This settlement not only provides an opportunity for financial compensation but also underscores the importance of robust data security measures to protect digital payment users in an increasingly online world.