Venmo fraud prevention: How to stop scams and protect your money

When you send money through Venmo, a popular peer-to-peer payment app that lets users transfer money instantly between friends and businesses. Also known as mobile payment service, it’s convenient—but not safe by default. Scammers know this. They target users with fake requests, phishing links, and social engineering tricks that look real. In 2024, over 12,000 Venmo fraud reports were filed with the FTC, and most victims lost money because they trusted the wrong person—or thought they were helping a friend.

Peer-to-peer payment security, the set of practices and tools designed to protect money transfers between individuals using digital apps isn’t just about passwords. It’s about how you think. Most Venmo scams happen because people skip basic checks: they don’t verify the recipient’s profile, ignore transaction confirmations, or click links sent via text. Even worse, some users turn off two-factor authentication to make things "faster." That’s like leaving your front door open because you’re in a hurry. Real security means slowing down. Enable login alerts, use strong unique passwords, and never share your 6-digit code with anyone—even if they claim to be from Venmo support.

Mobile payment scams, fraud schemes that exploit digital wallets like Venmo, Cash App, or Zelle to steal funds come in many forms. There’s the "overpayment" scam—someone sends you extra cash, asks you to refund the difference, then reverses their original payment. There’s the "fake invoice" scam—someone pretends to be a landlord, utility company, or even your kid’s soccer coach. And then there’s the "account takeover"—where hackers steal your login and drain your balance before you even notice. These aren’t rare. They’re routine. The best defense? Treat every payment like a cash transaction: confirm it’s real, confirm it’s needed, and confirm the person on the other end is who they say they are.

Fintech fraud, the broader category of financial technology-based deception that includes apps, bots, and automated systems used to steal money is growing fast. Venmo isn’t broken—it’s being exploited. And the tools to fight back are already built into your app. Use private transactions for anything that isn’t splitting pizza. Review your transaction history weekly. Report suspicious activity immediately. Don’t wait for Venmo to notify you—check yourself. Most fraud cases are solved when users act within 24 hours.

There’s no magic button to stop every scam. But there’s a clear path: awareness, habits, and small actions that add up. You don’t need to be a tech expert. You just need to be careful. The posts below show you exactly how real people have been targeted, what worked when they fought back, and how to set up your account so it’s harder for fraudsters to get in. Whether you’re new to Venmo or have been using it for years, these guides give you the practical steps to stay safe—without the jargon.