Beware of a new scam targeting Venmo users through clever tactics. It starts with an alarming text message that claims someone has signed into your Venmo account near a specific location. The text urges you to click on a link to prevent unauthorized access. Naturally, as a security-conscious individual, your initial instinct may be to click on the link and safeguard your money.

Man hands using smart phone
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However, this seemingly innocent action leads you to a deceptive website masquerading as Venmo. The site cunningly requests your login details, enabling the scammer to gain complete control over your account. Interestingly, the message also advises recipients not to share a code included within, affirming that it is, in fact, a scam. This ploy adds a touch of authenticity to the scam, as scammers surprisingly warn victims about potential scams.

Here Is What The Message Looks Like

Venmo Scam
Venmo Scam

How Do They Know I Have Venmo?

You may be wondering how the scammer even knows that you have a Venmo account. The truth is, they don't. With millions of people using Venmo, they simply play the odds. They understand that individuals without an account will likely disregard the text. Consequently, they assume that enough account holders exist to make their scheme worthwhile.

How Did They Get My Phone Number?

As for how they obtained your phone number, it is probable that they acquired it through data breaches where personal information was compromised. Identifying the specific source can be challenging, as they may either generate phone numbers randomly or procure them from data breaches.

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Stay Protected

Protecting yourself from this scam can be tricky, as there are few telltale signs to identify it. The scammers are not asking for large sums in gift cards, making it harder to detect. Nevertheless, exercising caution is your best defense. Instead of clicking on any links within a suspicious text, reach out to Venmo/PayPal customer support and report the message. Furthermore, remember that Venmo will never ask for your password, PIN, or access codes via text message, email, phone call, or any other communication medium.

By remaining vigilant and proactive, you can stay clear of this insidious scam and keep your hard-earned money secure. Stay informed and spread the word to protect others from falling victim to these devious tactics.

Read more about the Venmo scam here. 

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