Stay Alert – Fake Payment App Scams Are Increasing

As peer-to-peer payment apps like Zelle and Venmo grow in popularity, scammers increasingly pose as individuals or businesses claiming a mistaken payment and requesting a refund. They may also offer to let you keep part of the funds "for inconvenience."

These fake payment app scams often involve sending money from compromised accounts and displaying fake payment screenshots. 

Here's what to do if you receive this type of message:

• Do not send the money back: If you send it back, you might be returning your own money, and then the original fraudulent funds will be reversed.
• Report within the app: Use the official app's support to report the incident.
• Contact your bank: Inform your financial institution immediately to protect your account.
• Report to authorities: File a complaint with the FTC at ReportFraud.ftc.gov.

In addition, never trust a screenshot as proof of payment. Only confirm funds by checking your bank balance or the app's transaction history directly.