Venmo Fraud Hotline Scam - How to Protect Yourself

How the Scam Works

1. The Bait: You receive a text, email, or automated phone call claiming a suspicious transaction occurred or that someone is changing your password. The automated message usually asks you to press "1" if the charge was not authorized.
2. The Hook: Once you interact or call back, the "agent" will ask you to read back a multi-factor authentication code, PIN, or password that Venmo just texted to your phone.
3. The Theft: If you provide this code, the fraudster now has full access to log into your account, change your credentials, and drain your funds.

Warning Signs

• They ask for your PIN/Code: A legitimate Venmo agent will never ask you to read back a verification code.
• Third-party apps: They may direct you to download software (like AnyDesk or TeamViewer) to "fix" your account.
• External payments: They ask you to send money to a different account or platform to "verify" or "secure" your funds.

Protect Yourself

• Never share codes: Never provide verification codes, PINs, or passwords to anyone over the phone.
• Hang up and verify independently: If you receive a scary alert, do not press "1" or call the number provided. Instead, open your Venmo app or visit the official website to check your activity log or notifications.
• Enable Extra Security: Turn on two-factor authentication, Face ID, and change your password regularly.

How to Report It

If you believe your account is truly compromised or you were targeted by a scam, contact Venmo Support directly through the app. Navigate to Me > Settings > Get Help > Chat With Us to speak with a verified agent.