PayPal Sued Over Fraud Risks on its Venmo Money-Transfer App

Paypal Inc. was accused of failing to inform consumers about the inherent dangers of using Venmo.

• San Jose man claims in a proposed class-action lawsuit that Venmo is a favorite of fraudsters because its transactions are “instantaneous and unrecoverable,” making it all but impossible for consumers to recoup their losses after they realize they’ve been scammed
• Man claims he lost $2,450 to someone who offered him a job and told him to buy goods and supplies using Venmo, and then disappeared
• Venmo is marketed as a safe way for consumers to send money, the plaintiff said in the complaint, filed ...