How to Avoid Venmo Theft and Get Your Money Back

Venmo theft can be a frustrating and stressful experience, but there are steps you can take to avoid it and get your money back.

First, make sure to keep your account information private, just like you keep your social media profiles private.

To prevent unauthorized transactions, enable two-factor authentication on your Venmo account. This adds an extra layer of security to ensure that only you can access your account.

If you're a victim of Venmo theft, report it to Venmo immediately.

If you see unauthorized activity in your Venmo account, you may have been hacked. In this case, you'll want to immediately secure your account to prevent further losses.

Venmo should know if your account was hacked so they can freeze your account and stop scammers from using it in the future.

To avoid having your Venmo account hacked, you should regularly review your account activity to catch any suspicious transactions.

If you suspect your Venmo account has been hacked, you'll want to act fast to secure it and prevent further losses. You can immediately freeze your account to stop scammers from using it.

To report the incident, contact your local law enforcement's non-emergency line and ask for their fraud department. Provide as much information as you can about the hack and the steps you've already taken.

You can also file a complaint with the Federal Trade Commission (FTC) by calling 1-877-FTC-HELP or visiting ReportFraud.ftc.gov. This will help the FTC track and report on scams.

Unfortunately, Venmo typically doesn't get involved in financial disputes between users, so you'll need to contact your bank to pursue a chargeback or dispute. But first, you'll need a police report, which you can obtain by contacting your local law enforcement's non-emergency line.

If you're eligible, you may be able to recover your funds through Venmo's Purchase Protection, but this only applies if you've marked a payment to a personal profile as a "purchase" and the purchase doesn't meet the specified criteria.

See what others are reading: Venmo Fraud Prevention Call

If you've fallen victim to a Venmo scam, it's essential to report and block the scammer to prevent further losses and harassment. You can report the scammer to Venmo by blocking them through the app.

To block a scammer on Venmo, follow these steps: use the search bar at the top of the app to find the scammer's profile page, tap on the three circles in the upper-right corner, and select "Block." This will prevent the scammer from showing up in your network, sending you money requests or payments, or being able to find you on Venmo.

Once you've blocked the scammer, log out and then back in to your Venmo account to ensure the block takes effect. You can also report the scam to official government authorities, such as the Federal Trade Commission (FTC), by visiting ReportFraud.ftc.gov or calling 1-877-FTC-HELP.

If you've been scammed on Venmo, getting a refund can be a challenge. Only 14% of people scammed on Venmo in 2021 were able to recover their funds, according to the Better Business Bureau.

To increase your chances of getting back your lost money, you can file a police report. This will create a file that you can reference when trying to get your money back. You'll need to contact your local law enforcement's non-emergency line and ask for their fraud department.

You can also try to file for Venmo Purchase Protection, but this only applies if your payment was flagged as a "purchase." To qualify, you must have received something different from what you bought, or an item was damaged in shipping, or parts are missing for the item you purchased, or your purchase never arrives.

Here are the steps to file a Purchase Protection claim:

Make sure to include any relevant information, such as the payment date and amount, and the username of the person to whom you sent the money. You can also include attachments, like screenshots of your communications with the scammer.

If you've lost money or given up sensitive information, you should report it to the Federal Trade Commission (FTC). You can report the scam by calling 1-877-FTC-HELP or by visiting ReportFraud.ftc.gov.