Avoid payment fraud by following these steps
By WVUA 23 Digital Reporter Kyrsten Eller
The Better Business Bureau is urging the public to take precautions in the face of increasingly common digital wallet scams. Con artists are reportedly using popular peer-to-peer payment services such as PayPal, Venmo, CashApp, Zelle and more to put modern twists on classic scams.
The BBB has identified risks and important steps that users of these services should understand in order to protect themselves from fraud.
Some of these steps include:
- Only send or give money only to people you know and trust.
- Link your Venmo account to a credit card instead of your bank account.
- Ask the sender to cancel a transaction if you’re sent money by mistake. Since the sender can cancel the transaction, if they refuse, it’s likely a scam.
- Don’t provide any services to anyone before receiving a form of payment.
- Don’t send money to anyone before checking them first.
- Use security measures such as face ID, fingerprint or a PIN.
- Report all scams back to Venmo so that they can take necessary precautions.
Consumers also need to know that many common peer-to-peer payment apps do not have the robust fraud protection policies they expect from institutions like their banks and credit card companies.
For even further protection, the BBB also has an online Scam Tracker where people are able to report illegal scams or fraud. For more information or to report any illegal activity, click here.