Facebook Marketplace Venmo Scams and How to Protect Yourself

Facebook Marketplace and Venmo have become go-to platforms for buying and selling goods, but with the convenience comes a growing risk of scams. Scammers are exploiting the anonymity of online marketplaces to steal from unsuspecting buyers and sellers.

The most common type of scam on Facebook Marketplace and Venmo is the "payment upfront" scam, where a buyer or seller asks for payment before the item is transferred or received. This scam is a clear red flag, as legitimate transactions typically involve payment after the item has been received.

To protect yourself from these scams, be cautious of strangers requesting payment through Venmo or other services. Always research the buyer or seller thoroughly before making a transaction.

Scammers can impersonate Venmo customer support, making it seem like they're helping you with a payment issue.

Venmo scams often involve fake links that request money from you.

Bad actors aim to steal money or personal information from you in these scams.

Fraudsters use Venmo as a tool to commit various scams, according to the Identity Theft Resource Center.

You can protect yourself by watching out for these common Venmo scams.

Facebook Marketplace and Venmo offer various protections to prevent scams. Facebook's Purchase Protection policy covers some purchases made through Facebook Checkout, but you must use this payment method to qualify.

Buyers can leave reviews for sellers on Facebook Marketplace, helping others make informed decisions. Sellers can earn badges like "Super Seller" and "Very Responsive" based on their ratings.

Venmo's purchase protection program can help refund your money as a buyer if you don't receive an item, it arrives broken, or you don't get what you paid for. However, this protection only applies to eligible purchases made through the app.

To protect yourself from scams, keep your transactions to people you know and trust. If you receive an unusual request from someone you know, double-check their profile or reach out to them personally to confirm the request is legitimate.

Here are some red flags to watch out for:

Practice good password security by choosing a long, unique passphrase for each online account. This will help prevent scammers from accessing your information.

Facebook and Venmo offer online guides for buying and selling safely and responsibly. These guides cover best practices like meeting in person, watching out for counterfeit products, and using secure payment methods.

Fake payment notifications can be a major red flag. Scammers may send you a text claiming your Venmo account has been compromised and prompt you to click a link to "secure" your account, but this is just a phishing scam.

Always log in to your Venmo account directly through the app, don't trust links in texts or emails no matter how legitimate they look. Scammers are great at blending in, so be cautious.

You might also receive fake payment confirmations from scammers who want to buy something from you. They'll send you screenshots of payment confirmations that show they paid you via Venmo, but this is just a lie.

Be cautious of text messages or calls claiming you can make money quickly with Venmo.

These scammers might ask you to make a small upfront payment to get a larger amount in return, but you'll never get the money back.

In Colorado Springs, numerous sellers have fallen victim to the Overpayment Scam, losing thousands before catching on.

Don't be fooled by promises of easy money, and never make a payment to someone you don't know on Venmo.

If a buyer overpays you, don't refund the difference – contact Venmo support immediately to keep your money safe.

If you're buying something from a stranger online, be cautious of scams that can leave you out thousands of dollars.

Always verify the person you are buying from, especially if you're using a platform like Facebook Marketplace. Con artists may ask you to pay for an item without sending you legitimate funds.

To avoid receiving a fake Venmo payment, use the app only when exchanging money with people you trust, especially for big-ticket items. This includes times when you should never use your credit card for payment.

If a deal seems too good to be true, it usually is, and buying tickets from official sources or verified resale platforms is a safer bet. For example, in June 2023, San Diego resident Jessica Lopez lost $800 while buying concert tickets through Facebook Marketplace.

Scammers might ask you to pay for an item upfront before you meet them or send it to you, knowing you can't get your money back after the fact. They might even supply you with fake shipping information or fabricated screenshots to make the transaction seem legitimate.

If a buyer overpays you on Venmo, don't refund the difference. Contact Venmo support immediately, as in the case of Colorado Springs resident Maria Thompson, who was targeted by this scam tactic in March 2023.

Receiving unsolicited payments on Venmo can be a frustrating and costly experience. The scammers behind these schemes often use high-tech tactics to trick you into sending money back.

You might receive a payment from someone you don't know, and then they'll ask you to send it back as a new payment. This is a clear red flag, and you should never send money back to someone you don't know.

Venmo advises you to contact their support team instead, as they may be able to help you reverse or decline the suspicious payment. This is a crucial step in protecting yourself from potential scams.

Make-money-quick scams often involve unsolicited payments, where someone promises you a large return on a small investment. These scams are usually too good to be true, and you'll never get your money back.

If you receive an unexpected or random payment, block the user and report the issue to Venmo's customer service department. This will help prevent any further transactions with the scammer.

Don't try to contact the sender directly, as this could be a trap set by the scammer. By taking swift action and reporting the issue, you can minimize the risk of losing money.

Paper check scams are a common tactic used by scammers to steal your money. They might send you a paper check in the mail, but then ask you to send the money back using a different method, like the Venmo app.

The scammers might claim the original check payment was a mistake or come up with another story to convince you to go along with their plan.

Account and Identity Scams are a real concern on Facebook Marketplace and Venmo. Scammers can take over your Venmo account, changing your password and linking a new bank account, as seen in the case of Ashely Storms who lost $4,800.

Protecting your account with a strong, unique password and enabling two-factor authentication (MFA) can prevent unauthorized access. This extra step is crucial in preventing account takeovers like Ashely's.

Be wary of impersonation scams, where scammers pose as family members or friends in need of urgent money. A Massachusetts woman sent $2,500 to what she thought was her son, only to discover his Facebook account had been hacked.

Scammers often impersonate someone you know to get their hands on your money, creating fake social media accounts or updating old ones to make it seem like the request is coming from a trusted source. This can be a very convincing tactic, but it's essential to verify the identity of anyone asking for money, even if it seems urgent.

In some cases, scammers will even send money and request it back, making up a story of why they need it quickly. You should never send money to strangers, and it's crucial to remember that people who are strangers and have no real connection to you are just that - strangers.

To confirm identities, consider setting a family "safe word" that you can use to verify the authenticity of the request. This can be a simple way to ensure that the person asking for money is actually someone you know and trust.

Scammers may also impersonate Venmo customer support, directing you to a fake website or phone number to steal your money or hijack your account. If you need to contact Venmo's customer service or tech support, type the website into your browser instead of searching for it via a search engine like Google, or use the "Get Help" feature in the Venmo app to contact them directly.

Remember, tech support is always free, and they will never ask for your login credentials or payment over the phone. Be cautious of requests for money or login information, as these can be signs of a romance scam or other online fraud.

The Account Takeover can be a nightmare to deal with, as Ashely Storms found out in November 2021 when scammers took over her Venmo account and drained $4,800 from her linked bank account.

Protecting your account with a strong, unique password is crucial in preventing unauthorized access. This is especially important, as we've seen in the case of Ashely Storms.

Enabling two-factor authentication (MFA) is also essential in preventing account takeovers. This extra step can make a huge difference in keeping your account secure.

If you're a victim of an account takeover, it can be a struggle to regain control of your account and recover your lost funds, as Ashely Storms experienced.

Venmo scams can also be used to steal personal information, not just money.

Bad actors impersonate Venmo customer support to trick people into giving away sensitive info.

In some scams, fraudsters request money with a fake link, trying to steal both money and personal info.

Be cautious of fake charities that pop up after natural disasters or tragedies, like the one that exploited the 2022 house fire on Long Island. Scammers created a fake charity on Venmo, collecting donations that never reached the affected family.

In the wake of hurricane Helene and Milton, scammers often exploit these situations, so it's essential to double-check the charity's credentials before donating.

If it feels unusual or pushy, trust your gut and decline the request. Scammers often impersonate real people on social media, using stolen usernames and profile pictures to send requests to individuals who have sent or received money from the user in the past.

Some scammers create profiles that impersonate real people to gain your trust. They might even go so far as to steal their usernames and profile pictures. This is why it's essential to take a close look at their profiles before accepting payment requests.

High-pressure tactics and a sense of urgency to receive payment in advance are common signs of a scammer. If someone is using these tactics, it's likely they're trying to scam you. Remember, if it feels too good (or too bad) to be true, it probably is.

Venmo's security features make it tough for hackers to access your account, but human error can still be a problem. When the multifactor authentication process stops them from signing in, a hacker might call you to access the code Venmo sends to your phone.

Legit Venmo agents will never ask for a verification code, so if someone does, it's a sure sign they're not with Venmo and are probably running a scam.

Concert ticket scams are a type of purchase scam that's become increasingly popular as concert ticket prices continue to rise.

Scammers post valuable concert tickets online that can only be transferred digitally, making it seem like a convenient and secure transaction.

They often ask for payments using mobile payment apps like Venmo, PayPal, or Cash App, while refusing to meet in person to accept cash.

Screenshots of concert tickets in their account are used to build trust, but these tickets are almost certainly fake.

Transferring money to these scammers means your cash is gone, and you won't receive the concert tickets.

To prevent falling victim to Facebook Marketplace and Venmo scams, it's essential to be aware of the red flags.

Buyers can leave reviews for sellers on Facebook Marketplace, and the seller's commerce profile will show their rating from other buyers, as well as badges like "Super Seller", "Very Responsive", and more.

To qualify for Facebook's Purchase Protection policy, you must use Facebook Checkout for your transaction.

Experts recommend keeping your transactions to people you know and trust on Venmo.

If you receive an unusual request from someone you know, double-check their profile or reach out to them personally to confirm the request is legitimate.

Practice good password security by choosing a long, unique passphrase for each online account.

Here are some prevention tips:

If you think you've been scammed on Facebook Marketplace, report the incident to Facebook immediately. You can do this by clicking the Marketplace icon, selecting the listing, and then clicking the three-dot icon to select Report Seller.

Facebook is constantly searching for scams and removing listings that violate their policies, but they don't catch everything. To report a seller, click the name of the seller and follow the on-screen instructions.

You can also alert the Federal Trade Commission and Internet Crime Complaint Center if you lost money. Reporting the incident will help prevent others from falling victim to the same scam.

If your Facebook account was hacked, you can recover your account and beef up your password security to stay safe in the future.

Here are 4 tips to stay safe on Venmo:

Only send money to people you know and trust. This is a simple yet effective way to avoid scams, as recommended by experts.

Use strong, unique passwords that are at least 12 characters long and include a mix of numbers, capital letters, and symbols. This will help keep your account secure.

Enable additional security features like Multifactor Authentication, PIN, facial recognition, or fingerprint authentication to add an extra layer of protection.

Trust your gut – if something seems fishy, don't proceed with sending money. This is especially important when dealing with requests from people you don't know well.

Refunds and Reversals can be a challenge on Venmo. If you've been scammed, Venmo doesn't guarantee a refund, but you can submit a claim through the Venmo Purchase program to try to get your money back.

To qualify, you need to have made payments with a Venmo Debit Card or sent them to authorized merchants and business profiles. If you're a victim of a scam, contact Venmo support instead of sending money back to the scammer.

Will Venmo refund your money if scammed? The company doesn't guarantee a refund if you've been scammed through its app.

You may not get your money back, but there are steps you can take to try to get it back. Through the Venmo Purchase program, buyers can submit a claim and request a refund for certain purchases if they didn't receive the item or if the item they received was not as described.

To qualify for a refund, you need to have made payments with a Venmo Debit Card or sent money to authorized merchants and business profiles.

Venmo purchase protection can refund money for some items bought through the app, provided they were tagged as purchases upfront.

A refund can be initiated if the item didn't arrive, it showed up broken, or was not delivered as expected.

The best way to avoid receiving a fake Venmo payment is to use the app only when exchanging money with people you trust, especially for those times when you should never use your credit card for payment.

It's good practice to exchange the money and the item at the same time and in person, preferably in a well-lit, visible, and public location.

Reversing a payment can be a bit tricky, but it's not impossible. According to Venmo, it's impossible to cancel a payment to an existing Venmo account.

If you're trying to reverse a payment, there's a chance it can be done if the recipient gives Venmo support their permission. This is a crucial step in the process.

For the payment to be reversed, the recipient's account must be in good standing. This means they must have a clean payment history and no outstanding issues with Venmo.

The funds must also still be available in the recipient's account for the payment to be reversed. If the money has already been spent or transferred, it's too late to reverse the payment.

Fake prize scams are a common tactic used by scammers. They'll send you a message saying you've won a prize or cash award and ask you to log into your Venmo account to claim it. Be suspicious of these messages, as they often include a link that doesn't actually go to Venmo.

Scammers may impersonate Venmo customer support to trick you into giving away your personal info. This is a red flag you should watch out for.

Venmo will never email you from an address that ends in anything other than venmo.com. If you receive an email that looks like it's from Venmo but has a different email address, it's likely a scam.

Fake links are another common tactic used by scammers. They'll ask you to click on a link to sign into your Venmo account, but the link actually goes to a lookalike page that tricks you into sharing your login and password.

Fake customer support lines can appear in Google search results, tricking you into calling a scammer posing as a major company's representative.

You can avoid becoming a victim by only calling companies using the customer service numbers found on their websites or on your monthly statement.

These scammers may try to get you to pay for customer service or technical support by sending money via Venmo, highlighting the importance of being cautious when using money-transfer apps.

The Romance Scam is a type of scam that's become increasingly common. A Massachusetts woman lost over $8,000 to a scammer posing as a U.S. Army sergeant in 2022.

Scammers often build an emotional connection with their victims through frequent messages and calls, then start asking for money for supposed "emergencies". This can include medical bills or travel expenses for a visit.

In some cases, scammers may spend months building up trust and commitment before asking for cash. They might say they need the money to buy a plane ticket or to help get them out of a financial jam.

Scammers often use payment apps like Venmo to receive money from their victims. They might also ask their victims to wire money through a company like Western Union or MoneyGram.

Gift cards are another way scammers might try to get money from their victims. They might ask for gift cards and give them the PIN codes.

If someone you've never met starts asking for money, it's a major red flag. Love may be priceless, but it's not worth losing money over.

Legitimate jobs will never require you to handle payments through your personal accounts.

A job offer that sounds too good to be true probably is, and it's best to find out what you can about the company through Google before signing any documents.

Scammers are asking victims to pay upfront via Venmo to onboard or to move someone else’s money using their Venmo account.

It's best to avoid clicking on any offers that seem unrealistic and decline any requests to pay upfront for a new job offer.

In 2021, a Baltimore woman transferred nearly $8,000 of “company payments” to other accounts after being scammed into processing payments through her personal Venmo account.

Tech support scams are a real concern, and it's essential to be aware of the tactics scammers use to trick you. Scammers may get fake customer support lines to show up in Google search results, so it's crucial to only call companies using the customer service numbers found on their websites or on your monthly statement.

You might receive a call from a scammer claiming to be from Venmo's customer service, asking you to download a remote access app to help with a technical issue. This is a red flag, and you should never trust phone numbers from a quick online search.

To avoid becoming a victim, make sure to contact Venmo support through their official app or website, and never pay for customer service or technical support. Tech support is always free, and legitimate companies will never ask for your login credentials or payment over the phone.

If you need to contact Venmo's customer service or tech support department, type the website into your browser rather than searching for it via a search engine like Google. Or use the "Get Help" feature in the Venmo app, which allows you to contact Venmo directly.

Remember, scammers might ask you to send money to another Venmo account or pay for tech services, so be cautious and never share your login information or send money to strangers.