Back to Unauthorized Withdrawal Alert ScamPhishing

This is a version of Unauthorized Withdrawal Alert Scam in Phishing.

Automated Venmo 'press 1' call that asks for the code from a password reset

Someone starts a password reset on a person's Venmo account, so the person receives a genuine Venmo code. The person then gets an automated phone call saying someone is trying to log in to their Venmo account and asking them to press 1 if it was not them. The call then asks for the code. The code came from Venmo, but the call did not. Venmo says a Venmo agent will never ask for this code under any circumstances.

Automated Venmo 'press 1' call that asks for the code from a password reset | Screenshot

What’s different in this version

These traits set this message apart from the usual pattern.

  1. The code is genuine. According to the report, it arrives because someone else started a Venmo password reset on the account, which can make the call that follows seem believable.

  2. The screenshot shows three genuine Venmo security-code texts in a row, each warning that anyone who asks for the code is running a scam. The texts themselves are not the scam.

  3. The call is automated. It warns of a login attempt, asks the person to press 1 if it was not them, and then asks for the code.

  4. Venmo's own guidance describes a similar pattern that starts with a sign-in attempt rather than a password reset. This report describes a password reset.

Other variations of this scam

Other reported versions of this scam.

Related scams

Other patterns in the same category, or that share a brand with this report.

How this scam works

  1. 1

    Step 1: You get an alarming text, email, or call saying a withdrawal/transfer is in progress.

  2. 2

    Step 2: The message includes a link or phone number and urges you to act immediately to cancel.

  3. 3

    Step 3: If you click, you land on a look‑alike website that steals your login and one‑time codes.

  4. 4

    Step 4: If you call, a fake “fraud specialist” asks for your codes, pushes you to move money to a “safe” account, or requests remote access.

  5. 5

    Step 5: With your access, scammers move your money, change account settings, and lock you out.

✓ Do this

  • Check your account by opening the official app or typing the company’s website yourself.
  • Call the number on the back of your card or from the official website, not the number in the alert.
  • Set up transaction alerts and two‑factor authentication (2FA) in the official app.
  • If you clicked or shared info, change your password, remove unrecognized devices, and contact your bank’s fraud team immediately.
  • Report the message to your bank/app and forward phishing emails to their abuse address if available.

✗ Avoid this

  • Do not click links or call numbers in unexpected withdrawal alerts.
  • Do not share one‑time codes, PINs, or recovery phrases with anyone—even a supposed bank employee.
  • Do not move money to a “holding,” “safe,” or “verification” account—this is a common scam tactic.
  • Do not install remote access software or grant screen‑sharing to someone who contacted you.

Verbatim excerpts from the scam

Exact lines from emails or messages—searchable text so you can compare wording.

  1. 1Excerpt 1
    Venmo here! NEVER share this code via call/text. ONLY YOU should enter the code. BEWARE: If someone asks for the code, it's a scam. Code