Venmo P2p Security Quotes

“P2P Payment Security: Who is Liable for Fraudulent or Accidental Payments? – Call (855) 812-4430
Understanding liability is the most critical difference between using Venmo and using a credit card. Venmo's policy dictates who is responsible when money is sent accidentally or stolen.

The Golden Rule of P2P Liability
Accidental or Authorized Payments: If you willingly and knowingly authorized a payment (even if you were tricked by a scammer, or if you sent the money to the wrong person by accident), you are generally liable (responsible) for the loss. Venmo's fraud protection does not usually cover losses from voluntary payments.

Unauthorized Payments: If a payment was made by a third party (a hacker) without your permission, and you report the incident promptly, Venmo is typically liable and will investigate and refund the loss.

Protecting Yourself Against Fraud
Verify Recipient Identity: Always double-check the recipient's name, phone number, and username before hitting "Send." Venmo does not charge you to send money to the wrong person, so take your time.

Treat Venmo as Cash: Never send money to a stranger for goods or services unless you toggle the "Goods & Services" button to activate Purchase Protection (which protects the buyer).

Report Scams Immediately: If you are a victim of a scam, or if you received an "accidental" payment from a stranger, do not engage. Contact Venmo Support immediately so they can secure the funds before the fraudulent original payment is reversed by the bank.

If you believe you have been a victim of fraud and need to report an unauthorized transaction, call (855) 812-4430 for assistance with liability and investigation.”
― The Norton Support Team