Venmo users are being warned about a new scam targeting the popular peer-to-peer payment app. The scam involves fraudsters sending money to unsuspecting users, claiming it was a mistake, and then requesting the money be sent back.
“Scammers are sending “accidental” payments through Venmo using stolen credit cards asking you to send the money back because it was a mistake. If you send them money, it’ll come out of your bank account,” said Pinellas County Sheriff’s Office in a statement.
The scam typically begins with a stranger sending money to a Venmo user. Shortly after, the sender contacts the recipient, claiming they sent the money by accident and asking for it to be returned. In some cases, the scammer may even claim to be in a desperate situation and in need of the money urgently.
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However, the money initially sent by the scammer is often linked to a stolen credit card or bank account. Once the victim sends the money back, the scammer disappears, and the original payment is reversed, leaving the victim out of pocket.
Venmo has acknowledged the scam and is urging users to be vigilant. The company advises users to contact Venmo support if they receive an unexpected payment from someone they don’t know.
How to Protect Yourself
- Be wary of unsolicited payments: If you receive money from someone you don’t know, be cautious. It’s best to contact Venmo support to verify the payment’s legitimacy.
- Never send money back to strangers: If someone claims they sent you money by mistake, don’t send it back. Instead, contact Venmo support for assistance.
- Enable security features: Venmo offers several security features, such as PIN codes and fingerprint authentication, that can help protect your account.
Read: Pinellas County Sheriff Warns Of Phone Scam Targeting Residents
By following these tips, Venmo users can protect themselves from this latest scam and ensure their money stays safe.
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