Money transfer applications are used by New Yorkers all across the city to make their lives easier; nevertheless, the NYPD warns of minors utilizing apps like Venmo to swindle individuals out of thousands of dollars.
Surveillance footage shows the youths plotting their next move near Bryant Park in Manhattan’s Midtown. According to police, the youths inform unwary victims that they are raising funds for their basketball team and want a gift.
“It’s disguised as a basketball team, but we did our research and there is no team,” Sgt. Matt Doherty explained. They’re looking for donations for new jerseys, a trip fundraiser, or whatever.”
In truth, there is no fundraising squad; instead, the youths inform victims that their school accepts Venmo, Cash App, or Zelle. The kids then demand victims’ cellphones in order to enter their school’s details into the Venmo App.
“The victim unsuspecting because it’s a pretty unique crime will open their phone and willingly give over their cell phone to one of the kids,” said Doherty.
The kids are accused of emptying the victim’s bank account while distracted.
“One suspect will transfer upwards of $5,000 from the victim’s Venmo account,” she said.
The NYPD is working around the clock to apprehend the youngsters, and the department advises everyone not to give their phone to strangers.
“Venmo has a zero-tolerance policy on our platform for attempted fraudulent activity,” Venmo said in a statement to PIX11. According to a Venmo spokesman. “Whenever someone suspects they are the victim of a potential scam or have made an unauthorized transaction, we always advise them to contact customer support directly for assistance in resolving the matter.”
