I Know What You Did On Venmo

Started by rcjordan, December 12, 2022, 11:45:27 PM

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rcjordan


Drastic

Always hated this app for this reason. The few times I've used it, I had to manually select private payment every time. Otherwise it would show in their (and my, I presume) feed publicly.

So idiotic. This is a payment system, not a social network.

ergophobe

#2
I refuse to use it. People ask me all the time to Venmo them the money. I say no.

More and more in the US, though, people are asking me to Zelle the money. It's not perfect, but at least it is not gamified and socialized. There are lots of articles about Zelle "hacks" but every one I have seen consists of people sending large amounts of money to a person they do not know (like for a downpayment because I'm going to have to give it to the next person if you don't make your deposit now - FOMO social engineering).

rcjordan

Fraud, scam cases increasing on Zelle, Senate report finds | AP News

https://apnews.com/article/business-new-york-elizabeth-warren-7a09931dfc4e129e5ef4162b4dbe5ec0


Warren Calls Out Wells Fargo and Zelle for "Evasive", "Inaccurate" and "Misleading" Responses about Fraud and Scams on Zelle; Calls for Companies to Publicly Release All Data on Zelle Fraud and Scams | U.S. Senator Elizabeth Warren of Massachusetts

https://www.warren.senate.gov/oversight/letters/warren-calls-out-wells-fargo-and-zelle-for-evasive-inaccurate-and-misleading-responses-about-fraud-and-scams-on-zelle-calls-for-companies-to-publicly-release-all-data-on-zelle-fraud-and-scams

ergophobe

#4
So it looks like there have been unauthorized transfers.

Most of it, though, seems to fall into the "customer claimed they had been fraudulently tricked into making a payment." Any payment method is subject to that.

I'd like to see more on the unauthorized transfers (i.e. what does that term mean?)

Some friends of ours who do a lot of international travel have a separate account, not connected to other accounts, that they fund as needed and use for payments and debit card transactions with untrusted parties. It limits their downside risk if the account gets fully hacked.