Fake Venmo Screenshot Scams and How to Prevent Them

Fake Venmo screenshot scams are on the rise, and it's essential to know how to spot them. Scammers often use fake Venmo screenshots to trick victims into sending money or revealing sensitive information.

These scammers can be very convincing, but there are some red flags to watch out for. A fake Venmo screenshot may look identical to a real one, but it's often missing a crucial piece of information: the recipient's name.

Venmo's official policy is to never ask for sensitive information, such as passwords or social security numbers, via a screenshot or text message. If someone is asking for this information, it's likely a scam.

Be cautious of screenshots that have a different font or layout than the official Venmo app.

If you notice inconsistencies in the transaction details, such as a suspicious date, amount, or names of the sender and recipient, the screenshot is likely not original.

Look for signs of editing, like pixelation, blurriness, or distortion around the edges of the screenshot.

Venmo would never ask you to share your personal information or transaction details via email, phone or chat, so if you're being asked to share the screenshot, it's probably not real.

To verify the authenticity of the screenshot, check it against the official Venmo app or website, or contact Venmo customer support to confirm the validity of the transaction.

Here are some red flags to watch out for:

In-product warnings for users could be a game-changer in thwarting scams.

Inserting a warning within every request for money received through P2P payment apps like Cash App, Venmo, and PayPal could help protect vulnerable users. This could be achieved by adding a warning message within the app, as seen in mockup images created for Cash App, Venmo, and PayPal.

The warning message could inform users that requests for money from unknown senders may be scams, and they should not accept the request. This could potentially help thwart many of the incoming requests for money from scammers targeting those participating in giveaways.

Be cautious of requests for money in P2P payment apps, as scammers often target giveaways. These requests may look legitimate, but they can be a way for scammers to get their hands on your money.

Insertion of warning messages in P2P payment apps, such as Cash App, Venmo, and PayPal, could help thwart these scams. A mockup image of a Cash App warning message shows what this could look like.

Requests for money from unknown senders should be treated with suspicion, as they may be scams. A mockup image of a Venmo warning message highlights the importance of being cautious.

Verified badges, used to confirm celebrity or brand authenticity on social media, may not be foolproof. A recent blog highlighted examples of verified accounts being compromised and used to peddle scams.

Scammers may claim they can increase your money for a small donation or upfront payment, but this is a clear red flag. Providing end users with a warning message about this could potentially save some users from parting with their money.

Satnam, an expert in the field, has over 15 years of experience and has contributed to the Anti-Phishing Working Group. He's uncovered a huge spam botnet on Twitter and reported on spam bots on Tinder.

Zelle's lack of consumer protection is a red flag for other payment platforms.

The Zelle network is operated by Early Warning Services, a company owned by several major banks.

Venmo and Cash App, popular peer-to-peer payment services, have also been targeted by scammers.

The scammers use stolen credit card numbers to make purchases on these platforms.

Zelle's inability to reverse transactions is a major concern.

In 2020, Zelle processed over 5 billion transactions, with an average value of around $500 per transaction.

This makes it an attractive target for scammers looking to make quick and large sums of money.

Zelle's network is not insured by the Federal Deposit Insurance Corporation (FDIC).

Protecting yourself from scams requires taking proactive measures. Being proactive can save you a significant amount of money and time.

According to the Federal Trade Commission, people who are most likely to fall victim to scams are those who are in a hurry or under stress. Being cautious and taking your time can help you avoid scams.

Proactive measures include verifying the authenticity of emails and phone calls before responding or giving out personal information. This can be done by checking the sender's email address or phone number to ensure it matches the company's official contact information.

A simple trick to avoid phishing scams is to hover over the link in an email to see the URL before clicking on it. This can help you identify if the link is legitimate or not.

Being proactive also means being aware of your surroundings and being cautious of strangers who approach you with unsolicited offers.

In-product warnings for users could be a game-changer in thwarting scams.

These warnings could be inserted within every request for money received through P2P payment providers like Cash App, Venmo, and PayPal, as a starting point.

The mockup images show what these warnings could look like, but they're not currently implemented in any of the P2P payment applications.

Providing users with a warning message when they receive requests for money could help them know right away that they shouldn't accept the request.

This could potentially save users from parting with their money and thwart many of the incoming requests from scammers targeting those participating in giveaways.

Using verified badges to confirm celebrity or brand authenticity on social media is another way to help users avoid falling victim to impersonators.

However, verified badges are not without flaws, as highlighted in a piece for The Atlantic by Taylor Lorenz, where compromised verified accounts were used to peddle scams.

Satnam, an expert in the industry with over 15 years of experience, has contributed to the Anti-Phishing Working Group and helped develop a Social Networking Guide for the National Cyber Security Alliance.

He's also uncovered a huge spam botnet on Twitter and was the first to report on spam bots on Tinder, demonstrating the importance of staying vigilant against scams.