Product: Money transfer, virtual currency, or money service

On XX/XX/XXXX my wife and I were victims of a puppy scam on XXXX. A neighbors family member had their account hacked. Believing the person was family of our neighbor we agreed to take one of the unwanted puppies for a rehoming fee of {$150.00}. They asked for the payment through Venmo. The first transaction failed so they gave us a second account to try. This one went through. Throughout the day they would responded through XXXX XXXX saying they had a medical thing going on. After a while we realized they were just stalling so I immediately contacted Venmo to let them know there was fraud, and since the transaction didnt hit my bank account yet thought that they would be able to do something. The said that they couldnt stop the transaction so I placed a block on my checking account. Later I closed my Venmo account thinking that we had stopped the scam. Venmo emailed me today threatening collections. Because of this threat I will just pay the scammed money, worried that it would affect my credit. I wanted to provide this information to you as it seems unfair to consumers that Venmo can do this. Perhaps they should be regulated more and not allow for instant withdrawals of funds, as this makes it an easy target for scammers. 

Should I be required to pay this amount to Venmo? Or are they just threatening consumers to improve their bottom line and pass the cost to their users? 

Its sad to think that these apps offer little protection for their users and make things easy for the scammers. 

I also thought that they were able to stop the scam as they did not notify me until today. Though their representatives have mentioned transactions should be completed in 1-3 business days. 



Below I have attached the email that was sent. 
- Uh-oh, your account is frozen - let 's fix it Hi Name There was an issue with a recent payment from your Venmo account username, associated with the phone number phonenumber. We took care of the payment in the moment, and the receiver got the money, but we couldn't get the funds from your bank account. 
You now have a negative balance of {$150.00} USD, and we had to freeze your account. You can unfreeze and restore your account and go back to paying your friends and favorite businesses by resolving this negative balance. 
Pay back the negative balance using one of the options below : From your mobile device with the Venmo app installed, click here Open the Venmo app and follow the instructions displayed Log in to venmo.com/recover from a computer Call us at XXXX For any questions, please contact us at XXXX. We're available Monday - Friday, XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX Time. 
If you've already resolved the negative balance, you can ignore this email. 
Thank you, Venmo Collections This is an attempt to collect a debt, and any information obtained will be used for that purpose. 
Venmo is a service of PayPal , Inc. Venmo Collections is a department of PayPal , Inc . 
New York Residents : Each written, collection communication can be provided in an alternative, reasonable, accommodation selected by Venmo Collections. To make an accommodation request, please call us at XXXX. 
California and Maryland Residents : Unless you notify us within 30 days after receiving this notice that you dispute the validity of the debt, or any portion of the debt, the debt will be assumed valid. If you notify us in writing within 30 days after receipt of this notice that the debt, or any portion of the debt, is disputed, we will obtain verification of the debt and provide you with verification. If you request in writing within 30 days after receiving this notice, we will provide you with the name and address of the original creditor, if different from the current creditor. Written notices may be sent to Venmo, XXXX XXXX XXXX, XXXX, XXXX, XXXX. 
California Debt Collection License Number : Application Submitted.

To Opt Out of further collection emails from Venmo, click here and then select Opt-out of Collections Emails. 
XXXX PayPal, Inc XXXX XXXX XXXX XXXX XXXX, AZ XXXX