Nick Perry breaks down the Venmo switcheroo scam: someone sends you money from a stolen card, claims it was a mistake, and asks you to send it back. When the card gets canceled, their payment vanishes but yours doesn't, leaving you hundreds of dollars short.
Never, ever, ever send anyone money before you know this scam, or else you will lose hundreds and maybe even thousands of dollars, especially if you use Venmo. Scammers are playing a switcheroo trick where they use stolen credit cards to take your money. Here's exactly how it works. First, they Venmo you money, like $200. Then, they message you saying they sent it to the wrong person and that you must send it back. Now, whatever you do, you must not send it back. Or else this will happen. The bank will eventually cancel the stolen card and reverse the money that came out of the card. Now, when that happens, the money they sent you disappears from your account, and the money that you send them doesn't return to you. So now you're out $200, and there's nothing you can do about it. So next time someone sends you money out of nowhere, remember to
