The Cash App Settlement 2024 is against the breach which took place in the year 2023 where the users were affected by the data breach where their personal information was being stolen by the third person. Under this Cash App, the breach has come in force where the unauthorized person has got access to the user account data. The other lawsuit has come in action where the former employee has downloaded the transaction report of the users. After seeing this, the customers have complained and it has been seen that the settlement will be done for the amount of $15 million where each of the users will get $2500. You shall be under the eligibility criteria in order to get the benefit and the claim form has to be submitted till 18 November 2024. The given article will help you get all the details regarding the Settlement of Cash App.
Cash App Settlement 2024
The Cash App is the software which is used to handle the payments for friends, family and business. It was meant to be a safe application and now this popular application will be providing the users with cash too. You must be thinking how an application can pay you cash. The answer to this could be found if you know what the breach was and how the users were being affected. The users of Cash App have suffered a huge loss due to the data breach which has taken place back in 2021 and 2023. In the year 2021, it was found that a breach had occurred where the former employee had downloaded the report of the transactions of all the users. The second breach was when an unauthorised person accessed the user account data.
The class action lawsuit has determined that Cash App was very negligent in looking after these breaches and haven’t seen to any concern of the customer. The plaintiff has stated that the Cash App has failed to put controls to the unauthorised users and also they have mishandled the complaints of the users. The Cash App and its parent Company Block has denied all the allegations to it but since the lawsuit was filed, they have decided to pay the settlement for the amount of $15 million to the customers. As part of the settlement, the customers will be paid the amount of $2500 each and this amount will be paid to those who have used this Cash App from 23 August 2018 to 20 August 2024. In case there is not enough money to be paid to the customers, the payment amount will be reduced based on each recipient’s share for the total amount claimed. The article below will help you to guide with all the details on the settlement which will be paid to the customers.
Cash App Lawsuit 2024 Overview
The users of Cash App had complained about the security breach and have also fraudulent withdrawals as well as transfers. The plaintiffs have stated that the Company has failed to put any control on the unauthorized users. The total amount under the claim is said to be $15 million for which each of the users will get a benefit of $2500.
| Post title | Cash App Settlement 2024 |
| Application name | Cash App |
| Parent company | Block |
| Breach happened it | 2021 and 2023 |
| What was breach about | Unauthorized user stealing the user account and making fraudulent payments |
| Claim form to be filed till | 18 November 2024 |
| Settlement amount | $15 million |
| Settlement per person | $2500 |
| Settlement date | To be announced |
| Post type | Finance |
What Is Cash App Lawsuit 2024 About?
- In the year 2021, a breach was found where the former employee had downloaded the transaction report of the customers.
- In the year 2023, another breach was being noticed where the unauthorized user had accessed the personal information and the user accounts without any notice which led to the fraudulent transactions.
- This matter was known by the Cash App but they had not agreed to any of such reports but to settle the lawsuit they have agreed to make the payment.
- Both Cash App and Block have failed to put all the controls over the access by the unauthorized user and have mishandled the complaints of the users.
- Now to pay the amount to the customers, Cash App has decided to make a settlement for the amount of $15 million which has been decided for the amount of $2500 per person.
What Is The Cash App Settlement Eligibility 2024?
To be eligible to get the settlement, you shall have used the application between 23 August 2018 to 20 August 2024. Your accounts shall have been assessed and fraudulent transactions must have happened.
How Much Will You Get Under Cash App Settlement 2024?
The amount to be paid under the Cash App Settlement 2024 is $15 million. Each of the individuals will be given a payment of $2500 and the amount will be given proportional in case the Cash App does not have sufficient funds.
The benefit will be paid for out of pocket losses, total time lost and the transaction loss.
How Can You File A Cash App Claim?
The customers can submit their claim at the website cashappsecuritysettlement.com
One has to submit the Notice ID and the Confirmation code which has been mailed and the claim has to be submitted till 18 November 2024.
FAQs On Cash App Settlement 2024
The breach was the former employee downloading the transaction history of users and the other was where an unauthorized user has accessed the accounts of the customers.
For the total settlement of $15 million, each of the users will be paid the amount of $2500.
One can complete the claim form till 18 November 2024 to get the settlement benefit.
The total benefit will be paid for out of pocket losses, total time lost and the transaction loss.