New Venmo Scam Spreading Nationwide, Stealing Money From Bank Accounts
Another scam is hitting the nation and this time around, it involves popular money-sharing app Venmo.
Venmo is a phone application that allows you to transfer money from your bank account to that of your friends. According to reports, scammers are using a security setting on the app to take people's money.
This scam is different than most in that it involves the scammer coming face to face with their victim. Here's how it works: the scammer asks someone to use their phone for a second, making up a reason why they need to use it. For example, a scammer might say they need to use the phone to make an emergency call.
Once they have your phone in their possession, they open your Venmo app and send themselves a chunk of change.
Basic account settings allow you to send money to your friends - or anyone who has an account - with just a few clicks.
The good news is there is a way to prevent this. Go to the settings page on your Venmo app and turn on the 'Touch ID and PIN.' This allows you to create a four digit passcode, which you will be asked to enter before sending money to another person.
This comes shortly after a Duluth woman was conned out of $1,000 dollars by a scammer.
Hopefully, this wave of scams stops soon.