They did not disclose that Venmo could cancel or freeze fund transfer after a confirmation had been sent to the user. Venmo sent users confirmation that money had been credited to their account, when in fact it had not. Venmo misrepresented that user’s financial accounts were protected by “bank grade security systems”. Venmo has already been sued and settled with the FTC for violation of disclosing information to consumers about transferring funds and privacy settings in violation of the Gramm-Leach-Bliley Act (FTC, 2018). Additionally, if a user prefers that Venmo not track their geo-location at all times, they need to click into ‘Location’, ‘App location permissions’, then ‘Permissions’, then Location permission’ to change those default settings to the desired privacy setting. To change historical transaction privacy, a user needs to do an additional step to click into the ‘More’ section and change Past Transactions history to Private as well. This will change the settings for all transactions going forward but will not change the privacy settings of historical transactions. To change the settings, a user needs to open Venmo’s Privacy settings, change the settings to ‘Private’. Venmo, by this standard, has failed to address contextual integrity and the consequences can cause harm to unsuspecting users of Venmo.Ĭhanging the default Venmo settings is not difficult, but many users are unaware that their privacy is unprotected. Nissenbaum’s contextual integrity, addresses context of information relative to information norms that should be respected (Nissenbaum, 2011). This setting can be turned off, but many unsuspecting users remain unaware of these security options and assume their privacy is protected. Additionally, as per Venmo’s privacy policy, they track a user’s geo-location that may be used for several reasons which are vague such as ‘advertising. Countless people assume their information is shared only with friends they exchange funds with, and unknowingly are sharing information publicly. (2021, Buzzfeed)īy default, when a user signs up for Venmo, their settings via the app are set to ‘Public – Visible to everyone on the internet’. It revealed Biden’s private social network, family relationships and raised security issues at the national level.
A Buzzfeed journalist was able to find it within searching for 10 minutes. One famous case is the exposure of President Joe Biden’s account. Venmo is no stranger to news headlines about unintended privacy violations. Venmo makes headlines with privacy violations This puts Venmo in a unique position to enable sharing of personal information when the user intends it be shared and protecting the privacy of its users when the user expects it not to be shared. Venmo is a financial and social app, intended to allow friends to share funds while connecting socially with notes and emoji’s. " The Venmo App You Know and Love Now Has a New Look and Feel.Spying on friend’s financial transactions, it’s easy with Venmo " PayPal Settles FTC Charges That Venmo Failed to Disclose Information to Consumers About the Ability to Transfer Funds and Privacy Settings Violated Gramm-Leach-Bliley Act." " Attorney General Ken Paxton Announces Agreement to Protect Consumers Reform Privacy and Security Practices with PayPal."įederal Trade Commission. " PayPal Holdings Inc., Form 10-K, 2020." " Uber and Venmo Partner to Deliver a New Payment Experience."
" Venmo Visa Signature and Venmo Visa Credit Card." " The Legal Stuff You've Been Waiting For."
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