Rossen Reports: Venmo and PayPal launched new scam detectors. Here's how to use them
AI technology is now helping stop scammers from stealing your money on PayPal and Venmo.
Both platforms have rolled out new AI scans that analyze who you’re sending money to, the note you write, and known scam patterns. If the system detects suspicious activity, it warns you before the transaction is completed.
Scammers often exploit the “friends and family” payment option, which lacks buyer protection. To stay safe, always use the “goods and services” option when paying strangers. Avoid using words like “ASAP” or “urgent” in payment notes, as scammers use pressure tactics to rush victims.
If the AI flags a transaction, don’t ignore the warning. Stop and double-check before proceeding.
Ensure your app is updated to the latest version to access these new AI protections.