Reply to Money venmo'ed to wrong person

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How does that scam actually work? What's the con?[/quote]

I think they use a stolen credit card to send you money “by accident”, then delete the card and attach their own bank account info so when you send them money back, it goes into their own account. Then when the person whose card was stolen reports the fraud and the transaction is cancelled, [b]you are out the money[/b] that you sent the scammer.[/quote]

Thanks for this, but I'm still a bit confused.  The "you" here would be the person whose credit card was stolen, not the person who received the $600 in their Venmo, right?  I'm still not out any money, right?[/quote]

No, you are out the money.

Sally steal’s Jane’s credit card. Sally links it to her Venmo and “accidentally” sends you $600 from Jane’s card. 
Sally asks you to send her $600 back because it was a mistake. 
In the meantime, Sally links her own credit card to her Venmo. 
When you send her $600, it goes directly into Sally’s  account. 
Jane reports her card stolen, so that “accidental” transfer of money to your account is canceled. You never got the $600, but you’re out $600 because you Venmoed Sally. [/quote]

That's not how Venmo works. [/quote]

It is how the scam works: https://fraudpreventionunit.org/2021/07/21/watch-out-for-this-venmo-scam/[/quote]

But Venmo isn't going to take the money back from you. [/quote]

The credit card company will do a chargeback. It will either come out of your Venmo balance, or if you have insufficient funds your account will go into the negative and Venmo will suspend it until you produce that money.[/quote]

No. [/quote]

You can easily Google it 👍[/quote]

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