Cash App customers who meet the $15M Cash App data breach class action settlement 2024 Eligibility Requirements can now make a claim and may get up to $2,500. The company is slated to pay out up to $15 million in a class action settlement as a result of two data security breaches and practices regarding fraudulent transactions and unauthorized account access. As per Cash App the initial data breach done by a former employee.
The class action complaint claims that due to the ex-staffer’s conduct and access to customer data, 8.2 million Cash App users’ private information was exposed online. Another data breach happened the previous year when Cash App discovered certain users’ accounts had been hacked and that there had been unapproved transactions.
$15M Cash App Data Breach Class Action Settlement
Regarding data breaches that impacted users, a significant $15 million settlement was revealed in the class action case against Cash App. There have been two major data breaches at Cash App, a financial services platform used for investing, paying vendors, and transferring money. An employee’s improper access to customers’ Cash App Investing accounts was the first breach that occurred in 2022.
According to the complaint, a former employee also took user data from Cash App without the individuals’ permission after gaining access to their personal information while they were employed. If a user can prove that the data breach impacted their Cash App account, they can file a claim. After giving the business the necessary paperwork, a user may be entitled for a payment of up to $2,500.
Cash App Security Settlement 2024 Details
| Parties Involved | Salinas, et al. v. Block, Inc. and Cash App Investing, LLC |
| Claim Deadline | November 18, 2024 |
| Exclusion Deadline | November 1, 2024 |
| Objection Deadline | November 1, 2024 |
| Final Approval Hearing | December 16, 2024 |
| Official Website | cashappsecuritysettlement.com |
Who is eligible under this settlement
- Customers of Cash App or Cash App Investing who witnessed fraudulent transactions on their accounts, feel that a Cash App error resolution was insufficient, or believe that their private details were breached via Cash App between August 23, 2018 and August 20, 2024, or who believe that their Cash App accounts was used illegally will be eligible to file a claim.
- In order to file a claim for transaction-based damages resulting from an account breach, you will need to present proof that the breach occurred and that you reported it. If the documentation was submitted within the specified time frame, it could be sufficient. Those who qualify must use the settlement’s official website to submit a claim by November 18 of this year.
Background on the Data Breaches
- A recent $15 million settlement may entitle Cash App customers to a compensation of up to $2,500. After 2 data breaches via Cash App exposed users’ personal information, Block Inc., the parent firm of the well-known electronic money-transfer platform, consented to the payment in response to charges of carelessness. Following a former employee’s unauthorized access to account data in 2022, Block and Cash App Investing were determined to have been “negligent” and to have violated further user duties, according to the class action lawsuit.
- The complaint claims that Block was also careless in 2023 when “an unauthorized user” used previously used phone numbers connected to other accounts to access Cash App customers’ accounts. Cash App, Cash App Investing, and Block have consented to a $15 million settlement even though they have denied any culpability or misconduct mentioned in the case.
- As of now, qualified customers have to have used Cash App or Cash App Investing either in the past or present, had an account that was accessed without authorization, or had unapproved bank transfers or withdrawals between August 23, 2018, and August 20, 2024.
- A claim for up to $2,500 “for out-of-pocket losses” that they may have incurred over the above indicated period may be made by qualified users.
Am i qualify to get this payment
- You are eligible for this payment if you have used Cash App between August 23, 2018, and August 20, 2024.
- During the designated period, fraudulent withdrawals or transfers must have took place, or your account or personal information must have been accessed without your authorization.
Deadline for claim
The deadline to submit an exclusion claim is November 1st of this year if you are qualified but would like to choose not to participate in the settlement while maintaining your future legal right to sue Cash App. If you are disagree with the settlement then you can file an objection till November 1. As per the official website November 18, 2024 is the Claim Deadline.
Process to claim & Payment Date
- Cash App customers may submit a completed claim form by November 18, 2024, for review. The claim form may be filled out and submitted at cashappsecuritysettlement.com/submit-claim.
- In addition, qualified users may file a claim to obtain compensation for time missed; the maximum amount they may earn is $75, with a three-hour cap of $25 each hour. In addition, any verified transaction losses brought on by “an unauthorized account event” may be compensated for.
- Every Cash App user is limited to filing one claim per account, even if they have several. Claims must be sent by mail or online before November 18, 2024. In order to be eligible for the reimbursement, customers must still make an official claim; however, anyone who would like to opt out of the settlement must turn in a written notification by November 1st. The final approval hearing is scheduled on December 16, 2024, and its date is subject to change “without additional notice,” as stated on a website made just for the settlement. The settlement payments have not yet been revealed.
Jaxon Elias is a writer, poet, and finance expert. He graduated from the Craig School of Business in 2014 and later completed the “Leading with Finance” course from Harvard University Online. Additionally, he has worked as a freelancer for various media houses