[josegonzalez]

No, not really. The scammer can use a stolen Amex card to send payments. When the card is reported stolen and charges reversed, that goes all the way back to the user's bank account.

Would be silly of Venmo to do otherwise, as that would be an easy way for them to go out of business.

[repomies691]

But why would the bank reverse the transaction? From venmo viewpoint it is quite clear why they would want to reverse it, because they have changed the credit to actual funds. However the bank probably would want to protect their customer, and instead let venmo to take the hit.

[FireBeyond]

The bank would reverse it because it's unauthorized to their customer. Put the onus on the merchant.