You might have seen advertisements as well as posts in social media that claim that Venmo’s Santa is offering cash for free. The concept sounds intriguing You can ask for $100 from an account on Venmo account called “SantaOnVenmo,” and you may receive the cash (in actually an actual present card) as part of a Christmas giveaway. While this wildly popular @SantaOnVenmo promotion is true fraudulent, scammers also took advantage of the opportunity to set up fraudulent Santa accounts and extort vulnerable users.
This article will explain the ways that the authentic and fake Santa on Venmo campaigns function and offer strategies to avoid being a victim of these scams during the holiday season. The official Santa On Venmo sweepstakes is the chance to have fun with Venmo and possibly win prizes. Certain key aspects distinguish it from fakes that are trying to steal your money and then disappear.
Understanding the legitimate rules for sweepstakes, recognizing suspicious warnings and being careful about sharing account details to avoid being fooled by fake Santas. This is the season to be generous but not to fall victim to Grinches trying to swindle your hard-earned money. Take this advice to give joy, take part in the holiday promotions at Venmo and enjoy the joyous holiday season.
Overview of the Fake Santa Venmo Scam
It is believed that the Santa Venmo scam exploits Venmo’s popular “Santa On Venmo” Christmas promotion which allows users to legitimately request up to $100 from @SantaOnVenmo until December 10, 2024.
But, scammers have created false Santa account on Venmo with names such as “@SanttaOnVenmo” and “@venmosanta” to deceive users. With paid advertisements through social networks, scammers draw users to these accounts, and disable users from using the “request cash” feature. They force victims to hit “pay” instead. This can lead to which results in unintentional payments that are $100 and more being sent directly to fraudsters.
The scammers also steal the user’s Venmo handles whenever they make “payments.” It enables them to specifically target victims by using phishing scams to obtain passwords, bank account information or other money.
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How Did It Start?
On December 20, 2024 Venmo started their Santa promotion on social media, which included the official Venmo account for TikTok as well as Snapchat. This gave credibility to the notion of an official Santa account “giving away” cash on Venmo to celebrate the holiday season.
Scammers immediately noticed and set up false Santa accounts to capitalize on the excitement. They bought social media advertisements specifically targeting Venmo users, and then began fooling people into sending cash.
How Are Scammers Advertising the Fake Accounts?
YouTube and Facebook ads: Scammers pay for ads on YouTube as well as Facebook falsely saying that users could earn up to $100 by paying for or messaging these fake Santa accounts in the advertisements.
TikTok Videos Fake Venmo Santa accounts in TikTok make videos pretending to transfer people 100 dollars or more Venmo payments. The videos are designed to convince users that the fake accounts are genuine.
Instagram Posts: Scammers make Instagram posts that have captions such as “Santa is happy! The first 100 people who send $100 will receive it immediately!”
Snapchat Filters Scam Accounts promote customized Snapchat filters that say “Tap to receive 100 dollars from SantaOnVenmoNow!” The filters create malware or can lead to fraudulent Venmo accounts.
Why Is It So Deceptive?
It is a false Santa Venmo fraud is extremely fraudulent due to a variety of reasons:
The accounts closely resemble the actual @SantaOnVenmo username, such as @SantaaOnV and @VenmoSantaNow.
The ads on social media that are paid are falsely believed to be authentic and have a connection with the genuine Venmo promotion.
Technical issues make users “pay” rather than “request” from their accounts. The users believe that they have entered the correct offer.
Venmo hasn’t issued any guidelines to users about fake accounts, allowing the frauds to continue.
The scam accounts are constantly changing names when they are blocked, but they use the same techniques.
How the Fake Santa Venmo Scam Works
Once you’ve mastered the context and background This is a step-by -step explanation of how scammers carry out the holiday-themed scam on Venmo:
Step 1) Scammers Create the Fake Venmo Accounts
The scammers start by creating Venmo accounts and pretending as Santa Claus. Some examples include:
@SantasVenmo
@JollyOldSaintNic
@SantaOnVemo
@VenmoChristmas
They make use of profile photos of Santa and other holiday scenes to resemble the authentic @SantaOnVenmo account. The trick is to include an element of “Santa” or “Venmo” as part of the username.
Step 2) Crafting Social Media Ads to Lure Victims
The fraudsters then make social media advertisements on platforms such as Facebook, Instagram, YouTube, Snapchat, and TikTok to promote the fake Santa Venmo accounts.
A few examples of misleading ad messages:
“Add @JollyOldSaintNic’s account to Venmo and receive up to $100 in free money!”
“Santa is feeling generous! Spend $100 to @SantaOnVemo on Venmo and get back $250 in a flash!”
“Last chance to get cash on the holiday! Send $100 to @VenmoChristmas.”
Their ads also incorporate the Venmo logo, Christmas images as well as images of the Venmo interface, which makes it appear more authentic.
Step 3) Blocking the “Request” Feature in the Venmo App
If potential victims attempt to request money directly from the fake accounts inside the Venmo application, the scammers stop them from doing so. They limit it to only the “Pay” option is available.
This makes victims hit Pay instead, if they want to use Santa’s fake Santa account in any way.
Step 4) Tricking Users Into Sending Money
Many of the victims are confused when they attempt to ask for money and the feature isn’t working.
They believe it’s just an error in the Santa On Venmo promotion. Then they click the Pay button, without even realizing they did.
In the end, they are paying $100 or more to fraudsters. The Christmas season causes people to hurry through their payments faster without taking the time to look at the warning signs.
Step 5) Stealing Usernames For Phishing
In addition to generating quick money, the fraudsters are able to see usernames for everyone who makes a payment.
They gather these names, and contact the people who are victims directly via Venmo seeking information about their bank accounts Social Security numbers, bank account information, or other information.
The Bottom Line
It is true that the Santa on Venmo promotion does seem to be genuine and operated by Venmo according to the official rules and guidelines that can be found online. However, its popularity and technical problems have made it possible for scammers to set up false accounts that are convincing and take advantage of unsuspecting customers.
If you spot an account on Santa account that offers no-cost money in exchange for an Venmo “payment,” exercise the greatest caution. Verify the account with Venmo before you take any action since the majority of them are fraudulent. Any UI or technical issues tricks that lead to payments in lieu of requests are big red flags for fraud attempts.
Many users have fallen victim when they have used duplicate accounts, and could be unable to retrieve their money. As long as Venmo adopts stronger protections and clarifies its stance regarding copycat accounts, users will have to be on guard against these scams as well as the numerous frauds during the holidays that happen annually through the site.
Similar to most online offers which appear too promising to be true be sure to trust your gut. If you are unsure or feel “off” about a claimed Venmo offer, you should avoid it with them at all costs. The best way to protect yourself is not interacting with these fake accounts at all however convincing they seem at first.
