BBB Warns of Venmo Scams

Wednesday, September 1st, 2021 -- 9:04 AM

(Gray News) Be cautious if you get an out-of-the-blue Venmo request from a friend claiming to need money.

The Better Business Bureau is warning people about a potential scam that impersonates real users of the Venmo app. Scammers are using the information found in Venmo’s public feed to steal usernames and profile pictures to create a fake account.

Then they contact people whom the person had previously sent or received money, asking for a couple of hundred dollars to help buy groceries or gas because they lost their wallet.

The BBB warns this is just one of many potential cons of using digital wallet apps. If you pay scammers using a digital wallet, you may not get reimbursed. According to the BBB, unlike credit cards, many digital wallet vendors will not shoulder the cost of fraud.

Tips to avoid scams using a digital wallet include always double-check with your friends before sending cash; keep your transactions private; use money transfer only with friends; enable additional security settings; and link your money transfer app to a credit card for added protection.

Feel free to contact us with questions and/or comments.