A new scam is making the rounds, targeting Venmo users with fraudulent phone calls from a fake “Venmo Fraud Prevention Line.” The automated call claims that an attempt has been made to change your Venmo password. It then instructs you to press 1 if the attempt was not made by you.
Once you press 1, the scammer will send you a verification code from Venmo and the automated system will then ask you to enter that code over the phone. Do not enter the code.
This is a scam designed to trick you into providing the fraudster with access to your Venmo account. If you enter the code, the scammer can potentially gain control of your account, access your funds, and even lock you out completely.
What Should You Do?
- If you receive a call like this, hang up immediately.
- Do not provide any verification codes over the phone.
- Change your Venmo password as soon as possible.
- If you suspect fraudulent activity, contact Venmo support through their official website or app.
- Consider enabling two-factor authentication for extra security.
Scammers are constantly looking for new ways to trick users into giving up their personal information. Always remain cautious and verify any suspicious requests directly through the official Venmo platform.
Stay safe and share this warning with your friends and family!
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