In a Nutshell
If it feels like these calls are popping up more often, you’re not imagining it. Fraud is hitting record highs. According to the FTC’s latest Consumer Sentinel Network report, Americans lost a staggering $15.9 billion to fraud in 2025, with payment apps contributing heavily to those losses.
Scammers have figured out something simple but powerful—people trust payment apps. So they pose as helpful “support agents,” claiming your account has suspicious activity or that someone accidentally sent you money. The goal is to create just enough panic to make you act before you think.
Most scams start with a calm, convincing call. The person on the other end might sound professional, polite, even helpful. Sometimes your caller ID will even say “Venmo Support.” That’s not a coincidence—it’s a tactic called spoofing, where scammers fake the number you see.
From there, the script usually follows a pattern:
If your heart rate suddenly spikes while you’re on the call, that’s exactly the reaction they’re aiming for.
Your one-time password (OTP) is the key to your account. Scammers know they can’t get in without it, so they try to talk you into handing it over.
They’ll say it’s needed to “verify your identity” or “stop a transaction.” It sounds reasonable in the moment—but it’s a trap. The second you read that code out loud, they can log into your account from their own device.
No legitimate employee will ever ask for that code. If someone does, the conversation is already over—hang up.
This is one of the most common tricks. A caller claims there’s a suspicious payment on your account and tells you to “reverse” it by sending money to another account.
Here’s the catch: there is no real issue. The moment you send that money, it’s gone. Scammers rely on urgency to stop you from checking your actual transaction history.
If you’re ever told to send money to fix a problem, pause. Open the app yourself and verify. No exceptions.
Scammers love this one because it sounds official. They’ll tell you that your account needs to be upgraded to a “business profile” to receive a payment. Then comes the twist—they ask you to send a “refundable” fee to activate it.
That’s not how Venmo works. You don’t pay someone to receive money.
If anyone tells you that you need to send money in order to unlock incoming funds, you’re dealing with a scam.
Some scams go a step further. The caller claims they need to “help” you fix an issue and asks you to download apps like AnyDesk or TeamViewer.
This gives them full control of your phone. They can see your screen, watch you type passwords, and even move money while pretending to “run diagnostics.”
Legitimate support teams don’t need to control your device. If someone asks, that’s your cue to end the call immediately.
This one plays on empathy. A caller says they accidentally sent you money and urgently need it back.
What’s really happening is often fraud involving stolen cards. If you send money back, you’re sending your own funds. Later, the original transaction gets reversed, and you’re left covering the loss.
Instead of sending anything, tell them to contact Venmo support. Let the platform handle it properly.
The best defense is slowing things down. Scammers win when you react quickly.
If you get a suspicious call, hang up and check your account directly through the app. Don’t trust the caller, the number, or the story.
If something feels off, it probably is. That instinct is more reliable than anything a stranger tells you over the phone.
If you receive one of these calls, report it at ReportFraud.ftc.gov through the Federal Trade Commission and block the number on your device. You can also report the incident inside the Venmo app.
Taking a minute to report it might help stop the next person from falling into the same trap.
Frequently Asked Questions (FAQs)
Can Venmo actually call you about your account?
No. Venmo does not call users to ask for passwords, OTPs, or to fix account issues. Any such call is a scam.
What happens if I accidentally shared my OTP?
Act fast. Change your password immediately, enable two-factor authentication, and contact Venmo support through the app to secure your account.
Is it safe to send money back to someone who “accidentally” paid me?
No. Never send money back manually. Let Venmo handle the reversal to avoid losing your own funds.
How do scammers make their calls look official?
They use spoofing technology to fake caller IDs, making it appear like the call is coming from Venmo or a local number you trust.
Adam Collins is a cybersecurity researcher at ScamAdviser who operates under a pseudonym for privacy and security. With over four years on the digital frontlines and 1,500+ days spent deconstructing thousands of fraud schemes, he specialises in translating complex threats into actionable advice. His mission: exposing red flags so you can navigate the web with confidence
