Fake Venmo Transactions and How to Protect Yourself

Fake Venmo transactions can be a real headache, but there are steps you can take to protect yourself.

Venmo transactions are not protected by the same consumer protection laws as credit cards, so be cautious when sending or receiving money.

To avoid being a victim of fake Venmo transactions, be wary of requests from people you don't know, especially if they're asking for money to be sent to a friend or family member.

Always verify the recipient's identity before sending a payment, and never send money to someone who's asking you to do so.

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Be cautious of unwanted financial requests on Venmo. Scammers often pretend to be a friend or family member by changing their name and profile photo on Venmo, then send a request for money.

If you receive a request from someone you don't know, Venmo will alert you. This is a good sign to double-check who you're actually giving money to. Scammers count on you not thinking twice about paying.

Fake landlords or employers may also use Venmo to request money upfront for a job or rental application. Always check the legitimacy of a job or rental before making any financial arrangements. They'll ask you to pay a security deposit or other cost using Venmo, then disappear once you send the cash over.

Fake texts from companies like Venmo are a common scam tactic. They'll ask for your login info or a code that's been sent to you, but you should never hand over any details without confirming with the company first.

Venmo rarely contacts users directly, so it's unlikely they need your login info. Look for emails or texts that seem suspicious, especially if they ask for confidential information.

Be cautious of links in emails or texts that appear to be from Venmo. Clicking on them could lead to a fake website that steals your login details or installs malware on your phone.

Check the email domain address before giving out sensitive info. Emails from Venmo will come from an address that ends with "venmo.com", so be wary of emails that end with popular email domains like @gmail.com or @yahoo.com.

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Scammers can pretend to be a friend or family member by changing their name and profile photo on Venmo to look like someone you know.

They'll then send a request for money, hoping you won't think twice about paying. Venmo will alert you if you're sending money to someone you've never interacted with on the app before.

If you see this warning, double check who you're actually giving money to. Scammers are counting on you not to verify the person's identity.

You can easily verify the person's identity by checking their profile picture and name. If it looks suspicious, don't send the money.

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Be cautious of upfront transactions requested by landlords or employers, as they can be a scam. Fake landlords will ask you to Venmo a security deposit or key fee, only to disappear with your money.

Always check the legitimacy of a job before making any financial arrangements with the company. This includes verifying the company's identity and history before finalizing a lease.

Some scammers will ask you to Venmo an expense, such as a company laptop or uniform, after telling you you've got the job. They'll promise you the job, but it never actually existed.

Be wary of deals that seem too good to be true, especially when buying tickets through Facebook Marketplace. If a seller disappears after you've paid via Venmo, you're out of luck.

Payment notifications from Venmo can be confusing, especially if they're fake. Scammers have been sending out emails that look like they're from Venmo, but are actually designed to trick people into giving away their personal info or money.

These fake emails often claim that a large payment has been made into your account and you need to ship out a package via next-day delivery. Don't fall for it, as this is just a ruse to get you to contact the scammers.

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When buying or selling on Venmo, be aware that customers can fake screenshots to show they've sent money, so always verify the transfer to your account.

Fake payment confirmations are a real issue, and it's essential to be cautious.

Before completing a transaction, ensure money has been transferred to your account. Verify the transfer by checking your account balance or transaction history.

Fake sellers may ask you to make a payment on Venmo and provide fake receipts or shipping information before disappearing with your money.

Always research the vendor, read reviews, confirm business details, and check their Venmo account to verify their authenticity before buying something online.

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Fake payment notifications can be very convincing, but they're often a scam. The Venmo email scam, for example, sends an email claiming a large payment has been made into your account, and you need to ship out a package via next-day delivery. This is a ruse to get you to contact the scammers.

The email addresses included in the message are not legitimate. The genuine Venmo support email address is [email protected]. Don't fall for the fake ones like [email protected] or § [email protected].

Scammers may also send you a text claiming your Venmo account has been compromised, prompting you to click a link to "secure" your account. This is another phishing scam, and you should never trust links in texts or emails, no matter how legitimate they look.

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If you ever have a problem with your account or a payment on Venmo, reach out to their customer support directly for help through the email address available on their website.

NEVER click links or attachments from unknown sources, as this can lead to serious security issues.

To stay protected on the go, install Trend Micro Check for free, which will block dangerous sites for you automatically after you pin the browser extension.

If you've shared your financial or personal information on a fake website, change your Venmo password immediately to prevent further unauthorized access.

Contact your bank and credit or debit card issuer to inform them of the incident, and review your recent Venmo activity to ensure you authorized all the payments.

Report any unauthorized payments or activity to Venmo by contacting their Support team.

To help you recognize and prevent fraudulent activity, PayPal offers the following resources:

If a Venmo transfer is taking longer than usual, it may be a sign of a fake Venmo account.

Fake Venmo accounts often use stolen or fake names, so be wary of transfers from accounts with suspicious names.

Be cautious of requests to transfer money to an account with a name that doesn't match the person's real name.

If a Venmo user is asking for money for a reason that seems too good to be true, such as a "prize" or "incentive", it's likely a scam.

Be wary of job offers that ask you to handle payments through your personal accounts, it's a red flag. In 2021, a Baltimore woman transferred nearly $8,000 to other accounts, thinking it was company payments.

Legitimate jobs will never require you to handle payments through your personal accounts. If a job seems too good to be true, it probably is.

Remember, if you're unsure about a job offer, trust your instincts and don't take the risk.

Be cautious of buyers who claim to have overpaid you on a payment platform like Venmo. This is a common scam tactic.

In March 2023, a Colorado Springs resident was targeted by a buyer who sent $1,600 instead of the intended $800. The buyer then asked the seller to refund the extra $800.

Don't fall for it! If a buyer overpays you on Venmo, don't refund the difference. Contact Venmo support immediately.

Some sellers in the area have lost thousands of dollars to this scam before catching on.

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If you're not careful, scanning a QR code can lead to trouble. In 2023, Atlanta police uncovered a clever scam involving fake QR code stickers on parking meters. Scanning these codes led to fraudulent payment sites that mimicked an official parking payment portal.

Be cautious when scanning QR codes, especially on public parking meters. Scammers can target electric car chargers and other payment systems too, so stay alert. Make sure you're using the official Venmo app and not a web browser to scan QR codes.

If you've fallen victim to a QR code scam, change your Venmo password immediately and contact your bank and credit or debit card issuer. Review your recent Venmo activity to ensure you authorized all payments, and report any unauthorized activity to Venmo's Support team.

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In 2022, a North Carolina resident lost $19,000 to a sophisticated customer support scam. Thomas Mitchell fell victim to a scammer who convinced him to download a remote access app, using it to steal from his Venmo and bank accounts.

The scammer had convinced Thomas to call a phone number he found from a quick online search. This is a red flag, as you should never trust phone numbers from a quick online search.

Thomas realized what had happened when his bank called to verify the unusual activity. Always contact Venmo support through their official app or website.

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Fake QR codes can lead to fraudulent payment sites that mimic official parking payment portals, as seen in a scam in Atlanta where dozens of people fell victim before it was discovered.

In early 2023, Atlanta police uncovered a clever scam involving parking meters where fake QR code stickers were placed on meters around the city.

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Scammers target electric car chargers and other payment systems, so it's essential to stay alert.

Make sure you're using the official Venmo app and not a web browser when scanning QR codes to avoid falling victim to scams.

A recent case of a hacker exploiting Venmo's memo field showed how hackers create free accounts and send money requests with a fake charge and a fake help number to collect customer financial information.

Hackers then collect customer financial information from the phone call, making it crucial to understand the text in the memo to identify potential scams.

Inky CEO Dave Baggett emphasized the importance of understanding the language in the text to identify malicious activity.

A fake QR code can also be a block of text in Unicode filled with "weird code points", making it challenging to detect without rendering every mail.

This is a low-frequency tactic with a huge blast radius, meaning that if someone falls for it, they can end up wiring hundreds of thousands of dollars.

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