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PayPal, Venmo and Money-Sharing Apps – Are They Safe?

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Increasingly, payment apps such as Venmo are being used to facilitate payments and money sharing, but are these services really safe and secure? In this video, Adam Levin, chairman and founder of CyberScout and author of Swiped, suggests that these services are as safe as you make them. That is, the technology is safe, but in many cases people are oversharing information and giving away data about their financial lives that can be used against them by thieves. To prevent fraud, you should take safety measures such as connecting your apps to a credit card rather than a debit card. You can safely use these apps and online payment services, but be sure to monitor your accounts to ensure that you stay secure.

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