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If my Square account is hacked and bank details are changed and money is successfully rerouted?

I am hoping someone will have the straight facts on the following: What happens if my square pos is hacked and someone changes my bank account infmormation to theirs and takes my payouts? Is Square insured for this? Will they accept any responsibility? I know that Shopify does not. With Shopify you are "responsible for keeping your password secure" and they take no responsibility if an account is hacked and banking details are changed to reroute money to a thief's account. Does anyone know where Square is on this? Section 18 on the terms of service does not look promising.

Message 1 of 19
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Admin

Best Answer

Hello @thepetal this is a good question. I went ahead and reached out to our Privacy Team about this and it really depends on how the breach occurs. 

 

This is directly from the Privacy Team: 

 

Regarding breaches generally, if the data that you have collected from your customers is breached, the responsibility for that breach depends on how it occurred. If the breach occurred on your system or device (for example, if you were the victim of a phishing attack and your Square account was accessed without your authorization, data was accessed without your permission from your computer or mobile device, or your account or device was otherwise compromised), you would be responsible to your customers. We cannot provide legal advice to you  on what your steps should be. You may want to consider consulting with an attorney or privacy expert should you have additional questions.

 

Additionally, our terms of service give guidance on what we do and do not provide in connection with your use of our products. Our terms of service can be reviewed here.

 

If Square's internal data systems were breached, Square may be responsible. In this case, Square would comply with all applicable data privacy laws, rules, and regulations in responding to and remediating the breach.

 

I hope this provides some clarity! When it comes to protecting your account I always recommend enabling 2-Step Verification. With this enabled a hacker would need your cell phone and your password to access your account.

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Message 2 of 19
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18 REPLIES 18
Admin

Best Answer

Hello @thepetal this is a good question. I went ahead and reached out to our Privacy Team about this and it really depends on how the breach occurs. 

 

This is directly from the Privacy Team: 

 

Regarding breaches generally, if the data that you have collected from your customers is breached, the responsibility for that breach depends on how it occurred. If the breach occurred on your system or device (for example, if you were the victim of a phishing attack and your Square account was accessed without your authorization, data was accessed without your permission from your computer or mobile device, or your account or device was otherwise compromised), you would be responsible to your customers. We cannot provide legal advice to you  on what your steps should be. You may want to consider consulting with an attorney or privacy expert should you have additional questions.

 

Additionally, our terms of service give guidance on what we do and do not provide in connection with your use of our products. Our terms of service can be reviewed here.

 

If Square's internal data systems were breached, Square may be responsible. In this case, Square would comply with all applicable data privacy laws, rules, and regulations in responding to and remediating the breach.

 

I hope this provides some clarity! When it comes to protecting your account I always recommend enabling 2-Step Verification. With this enabled a hacker would need your cell phone and your password to access your account.

View Best Answer >

Message 2 of 19
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Thank you, My name is Sylvia  i rather not give any info by email.

They hacked my computer, changed the password for my old email, managed to change the bank account, transfer my deposits from Fri Sep 28 thru Mon Oct 1st. Also they applied for $1500 loan and Capital send them the money. If you investigate, you can see the account that went to. This is a big crime that has to stop. Square made it so easy for them to change bank information, a Federal crime. 
Have a blessed day.
Sylvia
Message 3 of 19
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This happened to me this weekend. What did you end up doing? I am in a complete panic right now. All my money from the weekend went into some other account.

Message 4 of 19
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Square Community Moderator

Welcome to the Community, @Kardrey

 

If something like this happens to you, please reach out to our CS Team directly ASAP. They will be able to get to the bottom of this for you. 

 

In the meantime, I would suggest setting up the 2 step verification and resetting your account password - to enhance security on your account. 

 

Thank you!

 

 

 

 

Kassi
Community Moderator, Square
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Message 5 of 19
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I already did all that and I reported it to square but will they refund my money or do I have to file an insurance claim it was a lot of money and I need it back like ASAP so what do I do I’m not getting any responses yet

Message 6 of 19
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Square Community Moderator

Ah I see, @Kardrey.

 

Thank you for sending that information over to our team, so they can review it. They will be able to give you more insight on the next step of the process when it comes to your account being hacked. 

 

 

Kassi
Community Moderator, Square
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Message 7 of 19
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This happened to me Monday 15 no banks as it was a Holiday. as it was going on I was reporting it. Square took way long to resolved this and it was to late because they transfer everything to the new account. I received emails regarding the changes and I reported this as an issue, they did nothing in withing 45 minutes everything was done. it is Thursday and now I get a new person saying they will not be responsible. Practically I have to tell each of my customers that they have to take it with their own banks or cc companies Good luck! They should have a protection for their customers as they get hacked on the system as I can see I am not the only one that this happened on the same day. This was a square bridge. Not our fault.Not our clients fault.

Message 8 of 19
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How did u talk to someone 

Message 9 of 19
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This exact thing happened to me, Monday! They intercepted and took over $4,300 of our Friday pending deposits. They managed to open a Square debit card instantly (without my authorization...and I am the sole authorized user on the account) and have the entire deposit re-routed to this debit card. I can't get anyone at Square to help me. I've sent 3 email requests and spoke to a cs rep, who told me the Fraud dept would get back to me, which they have not! I still see this strange debit card in my Square account and I am so worried they will be able to take even more transfers, even though the cs rep said they froze the banking part of my account.  How in the world did this person get into my account, change the passwords, open up a Square debit card, and get all my deposits immediately transferred into this "debit card", within a matter of hours? Why would Square allow anyone to obtain this debit card so easily? I received zero notifications. Why would they allow them to transfer immediately, without confirming? Lack of security, on Square's end. There should be stronger security measures. They made it too easy for this person to obtain this debit card and get the money, before I could try and log back on, 1 day later.  

Message 10 of 19
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I’ve been hacked last Thursday by the square account.  I lost thousands of dollars and then they used that account to hack my bank account on the next day which was Friday and then Saturday they used it to hack my quickbooks account /banking account again.  And I haven’t been able to speak to anyone in 4 days and today when intuit found something suspicious they actually contacted me and walked me through both sides of there company and searched and verified things square never have.   And they are going to try a reversal process which hopefully I get back the third hack.  Which the first one was over 2,600 dollars.  For no reason. If someone signed onto my account without my I phone 11 or labtop I should have been notified point blank and yet the call center is down.  Even if they have one 

Message 11 of 19
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How odd is it your account got hacked the same day as mine.  What was the last three account numbers did it said the money went to ???  993? Or something like that

Message 12 of 19
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I really hope you get your money back! I'm really upset, as well. $4,300 in one day's deposits is a lot for our small business. I wish I could speak to someone at Square, to figure out how a hacker was able to obtain this Square issued debit card and transfer the funds, literally in minutes. Like you, I am the only user on the account. I don't have multiple users or people who have access to my passwords or information.  Is there not better security measures, to protect us, as customers? This is very suspicious activity for our account, as well. We've had an account with them for 4 years...not once, have we requested anything other than the deposits to be made to the same business checking account, in the standard, not "instant" transfer time. There should have been a huge red flag, when there's such a major financial change, after years of no changes. Credit card companies call me on my phone, as soon as there is any unusual activity. They freeze the account, until they actually speak to me. It seems way too easy to hack into Square. 

The last 3 #'s were different from your hacker's debit card. But, so strange we got hacked at the same time! I would bet there are more victims out there, as well...

Message 13 of 19
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Square Community Moderator

Hey @Daniel4,

 

That is our Contact link you can use to call.

 

You need to make sure you're signed in on the top right when you go to that page and then select > More > I Don't See My issue in order to get your customer code to call.

 

And I escalated your case to the Account Services team @KR5. They should be reaching out shortly.

Ashley C
Community Moderator, Square
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Message 14 of 19
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Update, to above post: Square called me today. They resolved the issue, which was a HUGE relief. I have been so stressed out. They will be crediting my bank account for the full amount stolen. Their fraud department can go after the person who received the funds. I'm very grateful for the help today.  I wanted to share some very helpful information, they provided:

1. Always enable the 2 step verification (email and phone number). Most hackers get in through your email address and can intercept all emails from Square. The 2 step verification, ensures Square contacts your cell number, every single time there is activity from any other device.

2. If you believe your account has been compromised, change your email address and password which is linked to your Square account, in case they did get in through your hacked email address.

 

I hope you receive the same help I received today. It is frightening, to have anyone else have access to our funds.

Message 15 of 19
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I did get my money back! It took about a week and they froze my entire account during the investigation but square did come through. It was a terrible nerve wracking ordeal! But be patient they will fix it 

Message 16 of 19
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I had the same thing happen to me yesterday.  Now I can’t even talk to anyone from square.  I’m a small business owner and have a family and this isn’t right.  

Message 17 of 19
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Admin

@Daniel4 We don't have the ability to put you in touch with our team here in the Seller Community. You should be able to reach them here.

Nika_S
Beta Community Manager, Square
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Message 18 of 19
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Nobody has the ability because that so called link u sent me to is crap.  I’ve emailed people for 4 days and to call them is unavailable is un heard of.   Everyone will know how they are after all this and everyone else they screwed.  The stocks are going to be dropping.  And I’m not totally **bleep**ed because the situation or what happened.  I’m **bleep**ed because the customer service is so horrible.  Y’all don’t even have one!!  

Message 19 of 19
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