Mobile payment apps make it easy to split a dinner bill or send money to family, but they also create new opportunities for scammers.
A rising scheme is targeting people who use Venmo and PayPal, and the trick starts with one small detail. The two services can now send money to each other. That convenience also makes it possible for someone on PayPal to look you up on Venmo by using your phone number.
Criminals take advantage of this by sending a payment to a stranger, then messaging, “Oops, wrong person, can you send it back?” It sounds innocent, but it is a setup. The original payment is often made with a stolen card or hacked account. When the real owner reports the fraud, the payment gets reversed. If you already sent the money back, you lose it. The scammer keeps the money and disappears.
There is a way to shut this down before it starts. Venmo gives you control over who can search for your profile. Many users do not realize this setting exists, and the default is more open than it should be.
To tighten your privacy, open the Venmo app and follow these steps:
- Tap your profile icon (your picture)
- Go to Settings (the gear icon)
- Select Privacy
- Change the option so only trusted contacts can search for you (not Public)
This small change blocks strangers from discovering your profile through your phone number. It also helps prevent unwanted requests and reduces your exposure to the wrong person refund scam.
If you ever receive money from someone you do not know, never send it back. Contact Venmo support and let them handle the reversal. Scammers count on quick reactions and good manners. A few seconds of caution can save you from a costly mistake.