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Is Venmo safe and foolproof? Or are scams possible?

RRPRRP Posts: 23,791
I’ve only been using Venmo for a couple years now to receive payments. Today I was hit with a problem I don’t understand. On the surface it seems totally legit until I started getting confused and then suspicious later on.

A fellow whose name I don’t recognize, much less have in my in coming nor out going email (suspect # 2 or 3) says that he sent me several hundred dollars by mistake. Sounded legit since Venmo says they got it and after signing in then yes the money is in my account! 

He wants me to return it as a payment to him using my bank account (MAJOR flag).

I would be glad to just refuse his payment but don’t have a clue how to do it, but when I sent him (via Venmo) the instructions for HIM to cancel the transaction he said he can’t do it that way...

Anybody starting to understand why I smell something stinky? I have since asked him to email me with some info, instead of all this communication back and forth using Venmo only!

Thing is the amount he sent was $700, so it really seemed legit, but giving him any access to my bank account info makes me VERY suspicious! 
Re-gasketing America one yard at a time.
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Comments

  • Ozzie_IsaacOzzie_Isaac Posts: 11,543
    I would be very cautious.  I would do everything through Venmo and not send money direct from you bank.  Minimum, I would call your bank tomorrow and ask for advice.
    If it is worth doing, it is worth overdoing.

    XL, Medium, Minimax, Mini, Blackstone, WSM
  • Buckwoody EggerBuckwoody Egger Posts: 259
    edited May 3
    Venmo has the most social networking aspect of the pay apps so you will want to hide yourself as much as possible. 

    This is what the sender should do if he sent $ to you in error..  
    https://help.venmo.com/hc/en-us/articles/209681208-I-paid-the-wrong-person-

    Don’t send money back based on an imaginary handshake.   If you have the money in your account, you will want to give it back. Be careful there are not two processes giving it back at the same time. 

    Look at #4 here:  https://www.mybanktracker.com/blog/find-my-answers/venmo-scams-302911

    maybe block the user and let Venmo sort it out. 
  • RRPRRP Posts: 23,791
    Venmo has the most social networking aspect of the pay apps so you will want to hide yourself as much as possible. 

    This is what the sender should do if he sent $ to you in error..  
    https://help.venmo.com/hc/en-us/articles/209681208-I-paid-the-wrong-person-

    Don’t send money back based on an imaginary handshake. 
    THAT is exactly what I copied and sent him and he replied that he can’t do that! 
    Re-gasketing America one yard at a time.
  • lkapigianlkapigian Posts: 7,706
    This is the same MO of the Craigslist Rental Scams........if it walks like a duck
    Visalia, Ca

    LGBE- Pit's by Klose Trailer -Stumps XL Stretch - Custom Santa Maria-Modified HD Offset Smoker Reverse Flow- FatStack Smoker coming soon- Blackstone 36 - Custom Cold Smoke House and a lonely Brinkman Vertical Smoker
  • Buckwoody EggerBuckwoody Egger Posts: 259
    Send him a note saying to get the refund from Venmo and then block him.  I know it feels weird to sit on the cash but Venmo has withdrawal rights on your account and they will use it when the fraud is proven on his original deposit that was paid to you. 
  • RRPRRP Posts: 23,791
    lkapigian said:
    This is the same MO of the Craigslist Rental Scams........if it walks like a duck
    Even for $700? I’m not on Craigslist nor all that worldly...but this just stunk...when he started saying I couldn’t send his refund without using my bank account.

     Guess I might have $700 free money to spend on tools, you think, huh?  :):):)
    Re-gasketing America one yard at a time.
  • Mattman3969Mattman3969 Posts: 10,296
    check out #4 @RRP   This seems to be a common scam involving payments being made from stolen credit card info 

    https://www.mybanktracker.com/blog/find-my-answers/venmo-scams-302911

    -----------------------------------------


    2008 -Large BGE. 2013- Small BGE and 2015 - Mini. Henderson, Ky.
  • RRPRRP Posts: 23,791
    check out #4 @RRP   This seems to be a common scam involving payments being made from stolen credit card info 

    https://www.mybanktracker.com/blog/find-my-answers/venmo-scams-302911
    Thank you! Other than the scammer giving me a probable fake name that #4 fit like a glove! 
    Re-gasketing America one yard at a time.
  • RRPRRP Posts: 23,791
    Looks like unbeknownst to me I posted a PSA!  :)

    I guess maybe posting even Off Topic subjects on the regular forum might help others.
    Re-gasketing America one yard at a time.
  • kl8tonkl8ton Posts: 3,466
    If you get his address, make it right by sending him $700 worth of Rutland Gaskets with installation instructions.  Thank him for making the largest once time purchase from your gasket supply store.  
    Large, Medium, MiniMax, & 22, and 36" Blackstone
    Grand Rapids MI
  • lkapigianlkapigian Posts: 7,706
    RRP said:
    lkapigian said:
    This is the same MO of the Craigslist Rental Scams........if it walks like a duck
    Even for $700? I’m not on Craigslist nor all that worldly...but this just stunk...when he started saying I couldn’t send his refund without using my bank account.

     Guess I might have $700 free money to spend on tools, you think, huh?  :):):)
    Its a mirror account 
    Visalia, Ca

    LGBE- Pit's by Klose Trailer -Stumps XL Stretch - Custom Santa Maria-Modified HD Offset Smoker Reverse Flow- FatStack Smoker coming soon- Blackstone 36 - Custom Cold Smoke House and a lonely Brinkman Vertical Smoker
  • EoinEoin Posts: 3,633
    lkapigian said:
    RRP said:
    lkapigian said:
    This is the same MO of the Craigslist Rental Scams........if it walks like a duck
    Even for $700? I’m not on Craigslist nor all that worldly...but this just stunk...when he started saying I couldn’t send his refund without using my bank account.

     Guess I might have $700 free money to spend on tools, you think, huh?  :):):)
    Its a mirror account 
    Laundering rather than scamming?
  • Clutch227Clutch227 Posts: 11
    I think the scam is going to be that his $700 isn’t going to clear somehow after you’ve sent him back $700.  He’s found a way to “send” $700 temporarily, and hopes that you send $700 back before Venmo figures out his $700 doesn’t exist.  

    Don’t send anything - let Venmo figure it out.
  • nolaeggheadnolaegghead Posts: 36,597
    That account was likely hacked or device stolen or borrowed.  If it was a real account the guy would be on the hook for mail fraud.  The money would eventually be returned to the rightful owner and Ron would be out $700.  Someone has to lose in this scenario.  If Ron does nothing, he won't get scammed out of money.
    ______________________________________________
    No cooking devices other than an Easy-Bake oven with a 75 watt incandescent light bulb.
    Virus downloading.....(*beep...bleep...whirrr...whirrr*)
    Download Complete.



  • RyanStlRyanStl Posts: 260
    The person probably paid using credit card and will do a charge back after you pay back using your bank account or it was sent to you from stolen card.
  • PigBeanUsPigBeanUs Posts: 696
    edited May 3
    It’s a scam. Do nothing other than contact venmo through proper channels. 

    Do not try to be ‘helpful’, that’s part of the social engineering. Namely: “But I’m a good person, and I just wanted to help” 

    The $700 he sent is not real. 

    This is also why you should not post your everyday email, real name, phone number, etc all over social media. 
  • lousubcaplousubcap Posts: 23,466
    @RRP - thanks for the PSA here.  The linked articles are worth a read.  
    Louisville; "indeterminate Jim" here.  Rolling smoke in the neighbourhood. # 38 for the win.  Life is too short for light/lite beer!
  • lkapigianlkapigian Posts: 7,706
    edited May 3
    That account was likely hacked or device stolen or borrowed.  If it was a real account the guy would be on the hook for mail fraud.  The money would eventually be returned to the rightful owner and Ron would be out $700.  Someone has to lose in this scenario.  If Ron does nothing, he won't get scammed out of money.
    ^^^^this^^^^
    Looks just like his account and probably logged into it with a provided link ....you may want to update your password as hou could have easily just given them yours 
    Visalia, Ca

    LGBE- Pit's by Klose Trailer -Stumps XL Stretch - Custom Santa Maria-Modified HD Offset Smoker Reverse Flow- FatStack Smoker coming soon- Blackstone 36 - Custom Cold Smoke House and a lonely Brinkman Vertical Smoker
  • stlcharcoalstlcharcoal Posts: 4,377
    Don't do anything.....just let it sit.  Venmo/Paypal will eventually take it back once they find the fraud.  Do not complicate things by being proactive.  Seriously, this is their problem, not yours and it's better to let it play out.  Whoever it got stolen from with get their money back from their bank or credit card, and Venmo/PayPal will have to eat it if they cannot get it back from you.....and they should have better safeguards in place to make sure this crap doesn't happen.

    I have zero sympathy for them after they screwed me on deal.  Had a guy buy about $5000 of BGE stuff from me.  He put half down through a PayPal invoice, then I swiped his card with a PayPal reader on pickup for the other half.  Then he disputed the downpayment before he ever got here.  I sent them his signature on the invoice showing the downpayment credited, pictures of his license plate, video of him loading the stuff in his car (which matched the invoiced items), our text messages confirming everything.  PayPal's response, "Nope too bad, he said he didn't get it."
  • alaskanassasinalaskanassasin Posts: 4,019
    @stlcharcoal call the Mounties and tell them someone stole from you.
    South of Columbus, Ohio.
  • ColtsFanColtsFan Posts: 5,257
    If only it were a Nigerian Prince!
    ~ John - https://www.instagram.com/hoosier_egger
    (2) XL BGE, LG BGE, KJ Jr, Ardore Pizza Oven, King Disc 
    Bloomington, IN - Hoo Hoo Hoo Hoosiers!

  • johnmitchelljohnmitchell Posts: 5,708
    Could this not be @WesJohnson raising his ugly head?
    Greensboro North Carolina
    When in doubt Accelerate....
  • ColtsFanColtsFan Posts: 5,257
    Could this not be @WesJohnson raising his ugly head?

    Agree
    ~ John - https://www.instagram.com/hoosier_egger
    (2) XL BGE, LG BGE, KJ Jr, Ardore Pizza Oven, King Disc 
    Bloomington, IN - Hoo Hoo Hoo Hoosiers!

  • nolaeggheadnolaegghead Posts: 36,597
    Law enforcement may have probable cause to get a subpoena for that thief's IP address....

    ______________________________________________
    No cooking devices other than an Easy-Bake oven with a 75 watt incandescent light bulb.
    Virus downloading.....(*beep...bleep...whirrr...whirrr*)
    Download Complete.



  • EagleIIIEagleIII Posts: 413
    This joker would be the only one who needed your bank account to get his money back, while everyone else in the world would get it returned via the Venmo system!.  If he "can't do it that way", I'd tell him "Sucks for you. Bye Felisha..."
  • RRPRRP Posts: 23,791
    EPILOGUE:
    Thanks for all the sage advice! I have done nothing and the $700 will sit in my Venmo account until Venmo takes it back. At this stage the perp has no information about me other than my Venmo account and he isn't getting anything from me - not even a nasty reply to his last Venmo comment which now was 14 hours ago.
    Re-gasketing America one yard at a time.
  • cookingdude555cookingdude555 Posts: 2,932
    You should open a gasket selling empire with the proceeds, seems like the best thing to do.  I say this because I need a new gasket.

    John - SLC, UT

    Several eggs ..

  • ColbyLangColbyLang Posts: 1,187
    Fellas. Keep in mind Venmo is not backed by any fiduciary insurance. Leave little to nothing in those accounts. 
  • nolaeggheadnolaegghead Posts: 36,597
    ColbyLang said:
    Fellas. Keep in mind Venmo is not backed by any fiduciary insurance. Leave little to nothing in those accounts. 

    FDIC insurance is if the institution fails (not you getting ripped off), in this case, if Venmo failed you could lose your money if that money went in your account from Venmo transactions.  It would be insured if you loaded it up from your bank account or through direct deposit. 
    ______________________________________________
    No cooking devices other than an Easy-Bake oven with a 75 watt incandescent light bulb.
    Virus downloading.....(*beep...bleep...whirrr...whirrr*)
    Download Complete.



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