Dangers of using digital wallets like Apple Cash

Experts warn that digital wallet services like Apple Cash and Venmo are prime targets for scammers.

Many of these services, especially newer ones, don't protect consumers the same way credit cards do.

Experts say consumers are typically unaware what is and isn't protected. Regulations haven't caught up, and companies are still figuring out how to deal with fraud.

A federal law caps consumer's liability at $50, and most banks go further.

Debit cards typically offer similar protections if a person reports the fraud immediately. But digital payment services work more like cash. Apple encourages people to transfer money only to people they know.