Feds Discreetly Using This App to Monitor Private Money Exchanges
As technological advances continue to take over millennials’ social lives, one iPhone app, Venmo, is taking over the game by enabling people to easily exchange money while keeping up with the online exchanges of their peers.
The creators of Venmo may have intended for people to write what they’re actually spending their money on when using the app, but the publicity of said payments featured on people’s Venmo feeds makes it far too tempting to have a little fun with the “what’s it for?” section when making or requesting a payment. When paying a friend back for Chinese food takeout, for instance, a prankster may forego writing “Chinese food” in favor of shocking Venmo stalkers by writing “marijuana.”
However, it seems that joking about certain purchases could actually put Venmo users under investigation. It turns out, everything people do on Venmo is subject to scrutiny by the Office of Foreign Assets Control, an entitiy within the Treasury Department that ensures U.S. citizens aren’t sending money to terrorist organizations.