https://venmo.com/legal/us-user-agreement/
g. Risk of Reversals, Chargebacks and Claims
When you receive a payment, you are liable to Company for the full amount of the payment plus any fees if the payment is later invalidated for any reason. This means that, in addition to any other liability, you will be responsible for the amount of the payment, plus applicable fees if you lose a claim or a chargeback, or if there is a reversal of the payment. If a sender of a payment later disputes the payment or files a claim for a chargeback, the debit or credit card issuer or the originating bank, not Company, will determine whether the dispute is valid and to whom payment is due. You agree to allow Company to recover any amounts due to Company by debiting your balance. If there are insufficient funds in your balance to cover your liability, you agree to reimburse Company through other means. If Company is unable to recover the funds from your primary funding source, Company may attempt to contact you, Company may recover the funds from your alternate funding sources, or may take other legal actions to collect the amount due, to the extent allowed by applicable law.
company=venmo..
in short. if you get screwed.. venmo wont help you. they will give the funds back to the sender and then you have to try and find out the bank of the original sender and then question that bank.
as confirmed here
https://venmo.com/about/security/Keep yourself safe
Venmo is designed for payments between friends and people who trust each other. Avoid payments to people you don't know, especially if it involves a sale for goods and services (like event tickets and Craigslist items). These payments are potentially high risk, and you could lose your money without getting what you paid for. We don’t permit merchants to make sales via Venmo, nor do we offer buyer or seller protection. Business usage of Venmo requires an application and explicit authorization. For more information, please see section C(1)(b) of our User Agreement.
To add an additional layer of security to your Venmo account, learn how you can set up a PIN code in our mobile apps.