BBB: Don’t fall for a Venmo scam

Sep 30, 2021, 11:16 AM | Updated: 11:24 am

SALT LAKE CITY — “Can I Venmo you?” is a question consumers hear a lot lately thanks to the convenience of paying for everything from fundraisers to yard sale items with the cash transfer app on your phone.

But with great ease comes great opportunity for scammers to steal from you.

Taking a look at cybercrime in general, a recent study found that Utahns lost the fifth most in the nation, with an average of $9,564 per victim.

And 2020 was a record year where scammers swiped $4.2 billion in internet scams.

A study from CCTV Camera World compiled FBI statistics showing just how bad it is in Utah, and the Better Business Bureau is warning about Venmo specifically because it’s an easy scam to fall for.

Similar to spoofing phone numbers that look familiar or emails that just about match the addresses you’re used to, crooks try to cash in by asking for money from friends — only it’s a fake account that has been altered slightly to catch you off guard.

BBB tips to avoid Venmo scams

  • Don’t send any money to friends before directly confirming with them that they’re actually asking for the payment
  • Keep your transactions private
  • Only transfer money on these apps with people you actually know
  • Enable additional security settings, like two-factor authentication
  • Link apps like Venmo to a credit card so crooks aren’t stealing directly from your checking account and you can dispute the transaction.

An estimated 65 million people use Venmo, so pay attention before you hit that pay button.

KSL 5 TV Live

Top Stories

Local News

Sisters Sashley Briggs and Korri Wolfe donated a $20,000 treasure to charities that help veterans. ...
Ayanna Likens

Utah sisters donate $20,000 treasure to charities

Two sisters who went hunting for a $20,000 treasure had a bigger purpose in mind. After they found the treasure, they donated the money to charities that support mental health and veterans.
18 hours ago
Jed Boal

UHP receives donations of autism sensory bag for challenging encounters

The Autism Council of Utah, and Doug Smith Subaru donated new tools to the Utah Highway Patrol to help calm tricky situations.
18 hours ago
Use this only in CNN article...
Jeff Zeleny and Alex Rogers, CNN

Could Republicans lose a Senate race in deep-red Utah?

In fewer than five weeks, the Utah Senate race will determine whether Sen. Mike Lee or Evan McMullin will be the wiser course for a conservative seeking elected office.
18 hours ago
CARSON, CA - MAY 20: Musician Hayley Williams of Paramore performs onstage at KROQ Weenie Roast y F...
Eliza Pace

Paramore addresses assault at SLC concert, condemns violence, homophobia

The popular band Paramore shared a statement on Instagram regarding a physical and verbal assault that occurred at their concert Tuesday night. 
18 hours ago
A raft carrying Sen. Mitt Romney, R-Utah, his wife, Ann, and Sen. Michael Bennet, D-Colo., floats d...
Carter Williams, KSL.com

How will lower Colorado River flows impact Utah business, way of life?

Utah continues to suffer from ongoing drought and depleted water supplies, Gene Shawcroft, chairman of the Colorado River Authority of Utah believes the way residents and businesses water their lawns has to change.
18 hours ago
A single vehicle veered off of the roadway and struck a power pole. (Clearfield PD)...
Brooke Williams

Clearfield power outage due to a vehicle crashing into power pole Wednesday

A car hit a power pole in Clearfield, making the road close and power out for hours.
18 hours ago

Sponsored Articles

Hand turning a thermostat knob to increase savings by decreasing energy consumption. Composite imag...
Lighting Design

5 Lighting Tips to Save Energy and Money in Your Home

Advances in lighting technology make it easier to use smart features to cut costs. Read for tips to save energy by using different lighting strategies in your home.
Portrait of smiling practitioner with multi-ethnic senior people...
Summit Vista

How retirement communities help with healthy aging

There are many benefits that retirement communities contribute to healthy aging. Learn more about how it can enhance your life, or the life of your loved ones.
Happy diverse college or university students are having fun on their graduation day...
BYU MBA at the Marriott School of Business

How to choose what MBA program is right for you: Ask these questions before you apply!

Wondering what MBA program is right for you? Take this quiz before you apply to see if it will help you meet your goals.
Cloud storage technology with 3d rendering drawer with files in cloud...
PC Laptops

How backing up your computer can help you relieve stress

Don't wait for something bad to happen before backing up your computer. Learn how to protect your data before disaster strikes.
young woman with stickers on laptop computer...
Les Olson

7 ways print marketing materials can boost your business

Custom print marketing materials are a great way to leave an impression on clients or customers. Read for a few ideas to spread the word about your product or company.
young woman throwing clothes to organize a walk in closet...
Lighting Design

How to organize your walk-in closet | 7 easy tips to streamline your storage today

Read our tips to learn how to organize your walk-in closet for more storage space. These seven easy tips can help you get the most out of your space.
BBB: Don’t fall for a Venmo scam