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Cash App Scams Are On The Rise: How To Protect Yourself and Your Transactions

By Scott Gaertner, Associate Broker

Arecent news story on local TV news channel ABC 15 caught my attention and I wanted to share its message of raising awareness of cash app scams so that our Scottsdale North residents stay safe and vigilant—especially during major transactions like real estate purchases.

In the story (you can find it on ABC15. com by searching ‘Arizona woman loses thousands of dollars in cash transfer app scam’), veteran Valley journalist Fay Fredricks tells the harrowing tale of an Arizona family that unfortunately lost $10,000 in a real estate scam. The family thought they were purchasing their dream home and transferring the money over Zelle to who they assumed was a legitimate real estate agent—only to find out that it was a scam.

“When they say that it’s not going to happen to everyone, ‘I’m too smart, it’s not going to happen.’ It can happen,” warns the local victim of the scam to ABC 15. According to Fredericks’ reporting, the Arizona Attorney General’s Office has received multiple complaints about money transfer scams over the past year.

THE RISE OF CASH APP SCAMS

According to the Arizona Attorney General’s Office, in 2016, Arizona placed at number 19 for states reporting consumer fraud and tenth among states reporting identity theft. Scam artists victimize consumers of all ages, backgrounds, and income levels, but the elderly are disproportionately targeted.

During the pandemic, digital payment apps such as Venmo, Zelle, Cash App, and others, grew in popularity. This past summer, the U.S. Public Interest Research Group (PIRG) released a report showing that scams involving cash apps rose. “People are complaining, not just once, they’re complaining for weeks or months at a time and they’re getting no result,” Ed Mierzwinski, Senior Director of Federal Consumer Programs at U.S. PIRG, told Scripps National in a news report. “A big problem with the scammers and the apps is that when you initiate the transaction and send the money to the ‘bad guy,’ it’s not an unauthorized charge under the act. Congress should fix that.”

HOW YOU CAN PROTECT YOURSELF

To protect yourself from cash app scams, experts suggest treating cash apps such as Zelle, PayPal, Cash App, Venmo, and others like, well, cash. Use them only with trusted friends, family, and retailers.

Other expert tips for avoiding cash app scams include:

• Set privacy settings on these apps to the most private they can be. • Only send money to people you know and trust. • Double and triple check emails or usernames. • Watch out (and question) unexpected money requests. • Be aware of fake scam emails. One tip is to compare e-mails to the ‘contact us’ page on the app’s website. • With apps like Zelle that are attached to your bank account, be sure to have a strong, unique login, and two-factor authorization. • With all apps, have a unique login and password. Change your password occasionally, especially if it may have been compromised. • Never give anyone your login and password. • Always question an email or text that’s from a cash app. • Consider forgoing cash apps when possible and use credit or debit cards, which come with a bit more security when it comes to transactions.

IF YOU THINK YOU’VE BEEN SCAMMED

If the worst happens and you think you may be a scam victim, contact the app you used (there’s often a contact us form on their website) and your bank right away. The Arizona Attorney General also notes that if you believe you have been the victim of consumer fraud, you may file a consumer complaint online at azag.gov/ complaints/consumer or call them at 602542-5763 to request a complaint form.

REAL ESTATE FRAUD SCHEMES

In the ABC 15 story that I first mentioned, the scam victim lost $10,000 of hard-earned money in what she thought was a legitimate real estate transaction. To avoid doing this, I recommend only working with a local real estate agent with a trustworthy track record and using only traditional methods of payment in the real estate transactions. Wire fraud has also become a huge problem for home buyers and sellers. Look for another article coming soon on that topic.

Our team has decades worth of experience in local real estate and can help Scottsdale North residents to safely navigate the real estate process. If we can help in any way, give us a call at 480-6345000.

Scott Gaertner is an Associate Broker with Keller Williams Northeast, who for the past 25+ years has helped more people to find their lifestyle niche in the Scottsdale North area than anyone else. He also contributes his thoughts on lifestyle interests in the area.

Real Estate

ICON at Silverleaf Luxury Condominiums Open for Prospective Buyers

After a successful sell-out of the first 24 residences, sales are now underway at ICON at Silverleaf, a high style, highly amenitized enclave of luxury condominiums tucked into the canyons of the McDowell Mountains.

Situated within the gates of Silverleaf at DC Ranch, regarded as one of Arizona’s most exclusive golf club communities, ICON is surrounded by natural desert beauty and magnificent mountain views of the McDowell Mountain Preserve. Adjacent to the Canyon Village commercial center and Village Health Club and Spa, it is also close to a variety of entertainment, dining, shopping, and cultural destinations.

With 24-hour manned, gate-guarded security, residents here enjoy a private, low maintenance “lock and leave” lifestyle. Although in proximity to many upscale residential services, the setting is tranquil with artfully designed structures harmonizing with the environment.

Upon completion, ICON will include eight four-story buildings. Covered parking garages, pre-wired for electric car chargers, are located on the first floors. Three buildings are complete, and five buildings remain.

Greg Holmes, former head of sales at Zoom, Chris Nottoli, co-founder of CCI Network Services, and internationally renowned architect Bing Hu are managing the new ICON development.

Three single-story floor plans, reflecting Hu’s signature architectural style, are offered, ranging from 2,752 to 6,288 square feet with up to four bedrooms and fourand-one-half baths. Fresh, lively, and flowing with modern layouts and expansive open spaces, plans are designed to showcase incredible views.

For the ultimate in exclusivity and convenience, elevators are semi-private with a designated vestibule in each plan. In addition, buyers have a myriad of the best quality selections and upscale options for individualizing their residences.

Each ICON at Silverleaf home includes a selection of carefully curated designer finishes as standards. Buyers will receive design consultation with an award-winning, published designer, guiding them through the process of selecting finishes and navigating available upgrades.

The fourth floor 6,288-square-foot penthouse plans, the biggest plans with the best views, are a first for the state of Arizona. Penthouse owners have the option to finish their rooftops with their own private pool and outdoor living space.

ICON’s opulent resort-style pool and spa is reserved exclusively for residents. There is also easy access to miles of hiking trails in the McDowell Mountain Preserve, community parks and the Silverleaf Club.

The Silverleaf Club features a Tom-Weiskopf-designed, 18-hole championship golf course. Its 50,000 square foot clubhouse includes world-class spa facilities, resort and lap pools, fully appointed men’s and women’s locker rooms, as well as fine and casual dining. New members are currently being accepted.

Silverleaf is part of the 8,300-acre DC Ranch master plan, including more than 4,600 acres of open space.

“ICON is the last new development within Silverleaf,” Deborah Beardsley, Silverleaf Realty Associate Broker, says. “We offer a unique and highly desirable lifestyle in a pristine desert environment. I’ve been a part of this community since the beginning and am excited to be a part of this final offering.”

“We are finding more and more clients looking for upscale properties in private communities,” Laura Lester, Silverleaf Realty Sales Associate, says. “I am very pleased to offer ICON at Silverleaf.”

ICON at Silverleaf condominium sales are handled by Silverleaf Realty. Private construction tours for interested buyers are conducted at 18801 N. 101st Street, Suite 100, in Scottsdale by appointment only. For additional information, visit ICONSilverleaf.com or call 480-7255827.

Helping You Build the Luxury Home of Your Dreams

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stongedevelopment.com

info@stongedevelopment.com (623) 694-1819

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