Every day, millions of people use Cash App to send money to friends and family, pay for goods and services, and manage their finances. While the vast majority of these transactions happen without issue, we know that even one single scam can have a devastating impact on someone's life.
Today, we're sharing an update on our progress in making Cash App an even safer place to move money. Over the last five months since we published our white paper, through sustained investment in advanced technology and customer protection measures, we've achieved a significant milestone: we've decreased our Confirmed Scam Rate by nearly 70% over this time period, maintaining it well below 0.01% of all peer-to-peer payment transactions. But what matters most isn't the number itself—it's what this means for our customers.
“This improvement means that more people are able to use Cash App with confidence, knowing they're protected by sophisticated systems that work quietly in the background,” said Brian Boates, Block’s Risk Lead. “Our technology can spot and stop potential scams while ensuring legitimate transactions go through smoothly. We've achieved this balance by fine-tuning our systems to maintain healthy warning rates, block rates, and false positive metrics, ensuring we're stopping bad actors without creating unnecessary hurdles for our customers.”
Going above and beyond standard industry practices, we've successfully rolled out our scam reimbursement program to 100% of our customer base. This industry-leading initiative demonstrates our commitment to customer protection that extends far beyond what is typically required in the financial services industry. Through this program, we've already helped more than 50,000 customers, reimbursing more than $5 million in funds to those affected by scams. This reimbursement program represents an additional layer of protection that complements our robust detection, warning, and blocking systems.
Our goal is to protect everyday transactions by staying ahead of potential misuse through advanced machine learning, real-time monitoring, and intelligent risk assessments, while also educating customers about scam tactics and providing timely warnings. Building on our long-standing commitment to safety, we continue to enhance verification, detection, and partnerships with third parties and law enforcement. Each improvement makes Cash App safer, but our work is never done.
Scammers are constantly evolving their tactics, and so are we.
Every day, millions of people use Cash App to send money to friends and family, pay for goods and services, and manage their finances. While the vast majority of these transactions happen without issue, we know that even one single scam can have a devastating impact on someone's life.
Today, we're sharing an update on our progress in making Cash App an even safer place to move money. Over the last five months since we published our white paper, through sustained investment in advanced technology and customer protection measures, we've achieved a significant milestone: we've decreased our Confirmed Scam Rate by nearly 70% over this time period, maintaining it well below 0.01% of all peer-to-peer payment transactions. But what matters most isn't the number itself—it's what this means for our customers.
“This improvement means that more people are able to use Cash App with confidence, knowing they're protected by sophisticated systems that work quietly in the background,” said Brian Boates, Block’s Risk Lead. “Our technology can spot and stop potential scams while ensuring legitimate transactions go through smoothly. We've achieved this balance by fine-tuning our systems to maintain healthy warning rates, block rates, and false positive metrics, ensuring we're stopping bad actors without creating unnecessary hurdles for our customers.”
Going above and beyond standard industry practices, we've successfully rolled out our scam reimbursement program to 100% of our customer base. This industry-leading initiative demonstrates our commitment to customer protection that extends far beyond what is typically required in the financial services industry. Through this program, we've already helped more than 50,000 customers, reimbursing more than $5 million in funds to those affected by scams. This reimbursement program represents an additional layer of protection that complements our robust detection, warning, and blocking systems.
Our goal is to protect everyday transactions by staying ahead of potential misuse through advanced machine learning, real-time monitoring, and intelligent risk assessments, while also educating customers about scam tactics and providing timely warnings. Building on our long-standing commitment to safety, we continue to enhance verification, detection, and partnerships with third parties and law enforcement. Each improvement makes Cash App safer, but our work is never done.
Scammers are constantly evolving their tactics, and so are we.