Venmo transactions can be used in asset search investigations to locate hidden accounts or assets.
Venmo is a peer-to-peer payment platform owned by PayPal. It allows users to make mobile payments to other people in the U.S, usually via a smartphone app or the web platform. Venmo serves as a digital wallet, allowing users to keep money in the app for future transactions and cash out to a bank account.
Many people keep their social media accounts private, but Venmo is very infrequently concealed. If the Venmo account is set as public, then it is not really considered private information. Because of this, it can be used as a valuable tool for asset search investigations.
The fact that a person sends or receives payment through Venmo does not mean that he or she has assets available for execution of judgment or garnishment. But if an investigator sees a person making large payments for high-end vehicles or even luxury clothing on a regular basis, it could suggest the presence of hidden assets.
Here are the top ways that Venmo transactions can assist you in an asset search investigation:
Venmo shows the sender and the recipient
Venmo transactions not only show the amount, but also the sender and the recipient. By knowing this information, you can understand who your subject is sending money to on a regular basis and what accounts they are connected with.
Recurring charges can reveal someone’s financial situation
Venmo and similar applications are becoming increasingly popular for all types of transactions. If your subject splits utility bills, rent, groceries, or other regular expenses, you may be able to get an insight into their current financial situation.
Disclosure of transactions may lead to locations
When someone sends or receives money on Venmo, it is recorded on their account. By reading the description and looking into the recipient or sender, you may be able to determine the location.
Linking other social media profiles to Venmo transactions
If you are looking for a specific activity, compare Venmo transactions to social media activity to find connections. You may find that a particular transaction connects with an event that occurred on social media. Oftentimes, social media profiles are linked to and can be accessed from Venmo.
Venmo is a great resource that is very infrequently hidden. If you’re looking for information on a subject for asset search, checking their Venmo transactions is a great place to start. Ready to get started on your investigation? Active Intel Investigations now offers a do-it-yourself asset search so that you can conduct an asset search from home.