Cash App users have a pressing deadline looming. If you were impacted by the significant data and security breach, you must submit your claim for reimbursement by November 18, 2024. This is a crucial opportunity to secure compensation for the breach that may have compromised your personal information.
Overview of the Settlement
In the aftermath of a class-action lawsuit, Cash App has been ordered to pay a total of $15 million in damages. This settlement stems from a December 2021 incident where a former employee accessed and downloaded sensitive information of Cash App users without consent. Approximately 8.2 million current and former customers of Cash App Investing were affected, highlighting the serious implications for user privacy and data security.
Eligibility Criteria for Claims
To be eligible for compensation under this settlement, users must meet specific criteria:
- Account Status: You must have held a Cash App account between August 23, 2018, and August 20, 2024.
- Types of Claims: Claims can be filed for unauthorized withdrawals or transfers during this period. Users who have already received reimbursements from Block Inc., Cash App Investing, or third parties are not eligible to submit new claims.
Compensation Details
Affected users can seek reimbursement for various losses incurred due to the breach:
- Out-of-Pocket Losses: Users may claim up to $2,500 for any monetary losses related to unauthorized account activity.
- Lost Time: You can be compensated for time spent addressing the breach. Claims can cover up to three hours at a rate of $25 per hour.
- Transaction Losses: If you have experienced financial losses from transactions and have not yet been reimbursed, you can file for recovery of those amounts.
Claim Submission Process
Filing your claim is an important step towards securing your compensation. Here’s how you can proceed:
- Submit a Single Claim: If you manage multiple Cash App accounts, ensure that you submit just one claim form. Include all relevant account details on this single submission.
- Documentation: Provide necessary documentation to substantiate your claims for out-of-pocket expenses, lost time, or transaction losses.
- Deadline Reminder: Make sure to file your claim by 2 AM ET on November 19, 2024. Claims submitted after this deadline will not be considered.
What to Expect After Filing
Once your claim is submitted, there will be a waiting period. The settlement’s approval will be reviewed by a judge on December 19, 2024. If the settlement is accepted, you will receive details on your compensation. However, if it is not approved, there may be delays in payment, but it could result in a potentially higher payout later on.
Conclusion
The Cash App data breach serves as a stark reminder of the importance of data security, particularly as digital payment services become increasingly popular. If you are a Cash App user affected by this breach, take action now to ensure you meet the claim deadline and potentially recover your losses. Stay informed and proactive to protect your financial interests!
