12 Real-Life Venmo Scams You Need to Know About
It’s an app that lets you make payments directly from your bank account to anyone. Your payment activities are shared with the world and there’s no way of reversing the payment once it goes out. What could go wrong?
That’s right, I’m talking about Venmo—the payment app we all love to use.
We all like the convenience of splitting bills and sending money with just a few taps, but with convenience comes risk. Scammers love Venmo as much as we do—if not more. Here’s how they’re using the app to take advantage of unsuspecting users and what you can do to protect yourself.
1. Fake Payment Notification Scam
In February 2021, a suburban Chicago woman lost thousands to a phishing scam. It started with a text claiming her Venmo account had been compromised, prompting her to click a link to “secure” her account. Thinking it was legitimate, she clicked the link and entered her username and password. Once she entered her credentials, scammers drained $2,000 from her Venmo and an additional $2,000 from her linked bank account.
Remember: 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 like chameleons—they’re great at blending in.
2. The Romance Scam
In 2022, a Massachusetts woman lost over $8,000 to a scammer posing as a U.S. Army sergeant stationed overseas. The fraudster built an emotional connection through frequent messages and calls, then started asking for money for supposed “emergencies”. The woman sent multiple Venmo payments, believing she was helping her love interest with everything from medical bills to travel expenses for a visit. By the time she realized it was a scam, her heart was broken, and her bank account was significantly lighter.
Remember: Love may be priceless, but if someone you’ve never met starts asking for money, it’s a major red flag.
3. The Impersonation Scam
In January 2023, a Massachusetts woman named Paula received a desperate Facebook message from what appeared to be her son. The message claimed he was in trouble and needed money immediately. Without hesitation, Paula sent $2,500 via Venmo. She later discovered her son’s Facebook account had been hacked, and the money went to a scammer.
Remember: Always verify the identity of anyone asking for money, even it seems urgent. Agree on a family “safe word” to confirm identities in these situations. Don’t let your emotions empty your bank account.
4. The Fake Charity Scam
After a tragic house fire on Long Island in 2022, scammers created a fake charity on Venmo, collecting donations they claimed would help the affected family. Residents moved by the tragedy, sent money—none of which reached the victims.
Remember: Before you donate, ensure the charity is legitimate. In the wake of hurricane Helene and Milton, scammers often exploit natural disasters and tragedies, so always double-check their credentials.
5. The Job Offer Scam
In 2021, a Baltimore woman thought she’d landed her dream job, a work-from-home position with a great salary. The catch? She had to process payments through her personal Venmo account. Over two weeks, she transferred nearly $8,000 of “company payments” to other accounts. The scammers had used stolen credit cards for these transactions, leaving her responsible for the reversed payments.
Remember: 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.
6. The Marketplace Purchase Scam
In June 2023, San Diego resident Jessica Lopez lost $800 while buying concert tickets through Facebook Marketplace. After paying via Venmo, the seller disappeared, deleting their profile and leaving Jessica without tickets and $800.
Remember: Always buy tickets from official sources or verified resale platforms. If a deal seems too good to be true, it usually is…
7. The Fake Invoice Scam
In March 2022, Venmo users in Vermont were targeted by a wave of fake invoices for amounts ranging from $100 to $400. One victim, who wished to remain anonymous, nearly paid $299 for “cleaning services” before realizing it was fraudulent. The scammers were banking on users hastily paying without double-checking, a tactic that unfortunately worked on several occasions.
Remember: Before paying any invoice on Venmo, confirm with the sender through a different communication channel. Think of it as double-checking before crossing a street—it’s a simple habit that can save you from disaster.
8. The QR Code Scam
In early 2023, Atlanta police uncovered a clever scam involving parking meters. Fraudsters had placed fake QR code stickers on meters around the city. Scanning the codes led to fraudulent payment sites that mimicked an official parking payment portal. Several unsuspecting drivers ended up sending money directly to scammers’ Venmo accounts, thinking they were paying for parking. While the total amount stolen wasn’t disclosed, police warned that dozens of people had fallen victim before the scam was discovered.
Remember: When scanning QR codes, make sure you’re using the official Venmo app and not a web browser. Scammers also target electric car chargers and other payment systems, so stay alert.
9. The Account Takeover Scam
In November 2021, Connecticut resident Ashely Storms woke up to find scammers had taken over her Venmo account, changed her password, and linked a new bank account. Before she could react, they drained $4,800 from her linked bank account. Despite reaching out to Venmo immediately, Ashely struggled to regain control of her account and recover her lost funds, highlighting the importance of robust account security.
Remember: Protect your account with a strong, unique password and enable two-factor authentication (MFA). These extra steps are crucial in preventing unauthorized access.
10. The Fake Customer Support Scam
In 2022, North Carolina resident Thomas Mitchell fell victim to a sophisticated customer support scam. When he Google-searched for Venmo’s customer service number, he called what he thought was an official helpline. The scammer convinced him to download a remote access app, using it to steal $19,000 from his Venmo and bank accounts. Thomas realized what had happened when his bank called to verify the unusual activity.
Remember: Always contact Venmo support through their official app or website. Never trust phone numbers from a quick online search.
11. The Overpayment Scam
In March 2023, Colorado Springs resident Maria Thompson listed a couch online for $800. A buyer offered to pay via Venmo but “accidentally” sent $1,600. They asked Maria to refund the extra $800. Luckily, Maria was aware of this scam tactic and didn’t fall for it. Had she refunded the money, the original $1,600 payment would have been reversed, leaving her out $800. This scam has targeted numerous sellers in the area, with some losing thousands before catching on.
Remember: If a buyer overpays you on Venmo, don’t refund the difference. Contact Venmo support immediately.
12. The Fake Giveaway Scam
In late 2022, social media posts offered free money through Venmo giveaways. One victim, 28-year-old Alex from Greensboro, shared his username, thinking he had nothing to lose. Instead of receiving free money, his account was hacked, and $750 was stolen.
Remember: If it sounds too good to be true, it probably is. Free money giveaways are about as real as my commitment to New Year’s resolutions. Genuine giveaways won’t ask for sensitive information.
So, after hearing about these different scenarios, how do we protect ourselves from digital payment scams?
Here are 4 Quick Tips to Stay Safe on Venmo:
- Only send money to people you know and trust.
- Use strong, unique passwords – Make it 12 characters or longer and include at least one number, one capital, and symbols like #%@$^&.
- Enable additional security features like Multifactor Authentication, PIN, facial recognition, or fingerprint authentication.
- Trust your gut. If something seems fishy, don’t proceed—no matter how bad you want to see Taylor Swift.
Remember, staying safe on Venmo is a bit of common sense mixed a dash of healthy skepticism. Don’t let the scammer take advantage of your emotions and get you to hit the “send money” button. Have you ever encountered a Venmo scam? Share your story in the comments to help others stay safe.
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