Overview
Venmo scams target the platform's social and peer-to-peer features to defraud users. Common schemes include sending fake payment notifications, overpayment scams, phishing for account credentials, and using stolen credit cards to make payments that are later reversed. Venmo is designed for transactions between people who know and trust each other, making it risky for purchases from strangers.
How This Scam Works
Scammers send fake Venmo payment notification emails that look legitimate but contain phishing links to steal your login credentials.
Overpayment scams involve sending more than the agreed amount (often from a stolen account), then asking you to return the difference before the original payment is reversed.
Fraudulent buyers pay with Venmo for items sold online, then dispute the charge or the payment reverses because the linked payment source was stolen.
Account takeover through phishing or credential stuffing gives scammers access to drain your Venmo balance and linked bank account.
Warning Signs
Real Scam Examples
These are examples of messages used in this type of scam.
Subject: You've got money! [Name] paid you $850.00. Note: For the couch - thanks! View your Venmo account: [phishing link]. If you did not request this transaction, click here to report.
Hey, I just sent you $400 on Venmo for the concert tickets but I accidentally sent $600. Can you please send $200 back? I really need it corrected ASAP.
How to Protect Yourself
1Only use Venmo with people you know
Venmo is designed for splitting costs with friends. Avoid using it for transactions with strangers. For business transactions, use Venmo for Business which offers seller protection.
2Verify payments in the app
Always check your Venmo app directly to confirm payments. Do not rely on email notifications, which can be faked.
3Enable multi-factor authentication
Add PIN protection and enable two-factor authentication on your Venmo account to prevent unauthorized access.
4Make your transactions private
Set your Venmo transactions to private in settings. Public transaction history can be used by scammers to gather information about your activity.
Frequently Asked Questions
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