![]() After a few weeks of building trust and affection, they will usually request the victim sends them money for a made-up emergency, such as hospital bills or airline tickets. Using fake profiles, romance scammers cultivate relationships with lonely hearts on dating sites, and then move the conversation on unpoliced channels like WhatsApp. 9. Tricks by bogus suitors and sugar daddies The check will usually bounce, meaning the victim is down the item and the money that they sent. The scammer sends a check for more than the agreed sum, and then requests the extra be returned to them via Venmo. ![]() Whatever the lure, the link attached to the message will usually take the victim to a phishing page designed to elicit personal and Venmo login details.Ī victim is trying to sell an item on an online marketplace. Sometimes they may be asked to take a fake survey in order to receive the winnings. Fake prize/giveawayĪ fraudster sends an unsolicited email or text message claiming the recipient has won money from Venmo. Here are among the 10 most common at the time of writing. Others might involve fake links, or attempts to steal not only money but also personal information. Some are linked to other fraud types like romance scams. That makes it important for users to spot the warning signs of fraud before it’s too late. Once the money has been transferred, it’s difficult to recoup. However, unlike card payments, users aren’t protected if they accidentally pay a fraudster. It processed an estimated US$230 billion globally in 2021. Now a part of PayPal, it’s a fully-fledged digital wallet and payments service that allows users to send and receive funds quickly, easily and free of charge – via connected bank accounts. Venmo began life back in 2009 as an SMS-based tool which gave its founders a handy way to send each other money, without having to use cash or checks. Unfortunately, scammers have also found apps like Cash App, Zelle and Venmo to be fertile hunting grounds. But they’re not the only ones who are winning. A range of slick digital payment apps have emerged over recent years to make the whole process as seamless as possible for end users. Today’s consumers have a wealth of choice when it comes to paying and sending money online. Here’s what to know about some of the most common ploys that scammers use on the payment app
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