Payment App Scams with Michelle Couch-Friedman

Venmo, CashApp, Zelle, and other payment apps are convenient for sending money to family and friends. But are they really safe to be using? Today’s guest is Michelle Couch-Friedman. Michelle is the founder and CEO of Consumer Rescue. She is an experienced consumer reporter, advocate, mediator, author, and licensed psychotherapist. Michelle has also been a columnist, contributing editor, and former executive director for Elliott Advocacy, a non-profit organization dedicated to consumer advocacy. 

Show Notes:

• [1:05] - Michelle explains her role within Consumer Rescue and the mission of the company.
• [2:52] - About 7 years ago, Michelle had a negative consumer experience.
• [5:12] - Her experience led to her journey in consumer advocacy.
• [7:56] - Through Consumer Rescue, Michelle assists people in staying calm and logical. Stick with the facts and stand out with brevity.
• [9:32] - Payment apps have become the preferred method for scammers worldwide.
• [10:33] - Payment apps will not refund you your money if you are scammed.
• [12:34] - Scammers set up websites that look professional and legitimate.
• [13:32] - This is very common with purchasing pets online.
• [14:35] - There are incremental steps to increase the amount of money sent.
• [15:50] - The incremental steps are common in romance scams as well.
• [16:51] - Michelle describes what a Chargeback scam is and how it began with Venmo, but shouldn’t work with Zelle.
• [18:59] - Don’t send money back if you receive money by accident from a stranger.
• [21:03] - There are safety nets in place to ensure accidents don’t happen. Don’t be hasty.
• [22:42] - If you don’t use a payment app or don’t understand how to use it appropriately, don’t have it on your phone.
• [24:35] - The apps are not a bank. They do not come with the same kind of protections.
• [26:52] - Payment apps are never going to be the preferred method of payment from any legitimate company.
• [28:27] - It is always a red flag when someone is trying to get you away from the website or legitimate platform.
• [30:48] - Look closely at websites and reverse lookup images on Google.
• [32:23] - Airbnb and vacation listings are common scams.
• [34:31] - When it comes to property listings, there are steps you can take to ensure its legitimacy.
• [36:37] - Alternatively, if something is listed underpriced, that could also be a red flag.
• [39:29] - Airbnb began as shared space rentals only.
• [41:10] - Make all your payments from the platform. Avoid third party payments.
• [42:57] - Prevention is best. Once you’re in this situation, you are likely out of your money.

Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review. 

Links and Resources:

• Podcast Web Page
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• Consumer Rescue Website
• Elliott Advocacy Website
• Michelle Couch-Friedman on LinkedIn