Scam in VenezuelaChanging money
Dishonest currency exchange offers in Venezuela
How it works
Informal traders offer a better exchange rate than official exchange businesses. Some may be scammers, thieves or police posing as traders. A good advertised rate does not make the person trustworthy. Money exchanged may also be difficult to change back.
Warning signs
- A stranger approaches you with an exchange offer at the airport.
- The main reason to trust the offer is a better rate.
- You cannot establish who the trader is or whether they are reliable.
How to avoid it
- Avoid informal exchange with people whose honesty you cannot establish.
- Use an established exchange business if you are unsure.
- If considering a tourism contact, ask your hotel manager or accommodation owner about the rate and terms.
- Exchange only what you expect to use and do not assume you can change it back.
If it happens to you
Stop the exchange if you can do so safely. If money has been taken, keep any messages or transaction details. Do not follow the trader or pay more to recover your money.
- Get to a safe, staffed place. If threatened or robbed, do not resist or chase anyone.
- Check for injuries and seek medical help if needed.
- Block missing cards through your bank. Secure a stolen phone and any affected accounts.
- Write down what happened. Save receipts, messages, booking details and vehicle information without putting yourself at risk.
- Contact the relevant business or card issuer. If you need a police report, ask your hotel or embassy how to obtain one safely.
- Contact your embassy if your passport is missing, and your insurer if you need to make a claim.
Questions
What is the dishonest currency exchange offers scam in Venezuela?
Informal traders offer a better exchange rate than official exchange businesses. Some may be scammers, thieves or police posing as traders. A good advertised rate does not make the person trustworthy. Money exchanged may also be difficult to change back.
How can I spot it early?
A stranger approaches you with an exchange offer at the airport. The main reason to trust the offer is a better rate. You cannot establish who the trader is or whether they are reliable.
How do I avoid dishonest currency exchange offers in Venezuela?
Avoid informal exchange with people whose honesty you cannot establish. Use an established exchange business if you are unsure. If considering a tourism contact, ask your hotel manager or accommodation owner about the rate and terms. Exchange only what you expect to use and do not assume you can change it back.
What should I do if it happens to me?
Stop the exchange if you can do so safely. If money has been taken, keep any messages or transaction details. Do not follow the trader or pay more to recover your money.
Where in Venezuela does this happen?
Informal currency exchanges, including offers on arrival at the airport. It has been reported in Caracas.
How common is this scam in Venezuela?
Occasional. Tourist overcharging is common in Venezuela, especially with taxis. Other risks include dishonest currency traders, demands for bribes, pickpocketing and armed robbery. Check prices before agreeing, arrange trusted transport and keep valuables out of sight.
Who can I report it to?
Card issuer or bank: use your banking app or the issuer's official contact details to block a missing card and report unauthorised or incorrect charges. Taxi service, transport operator, restaurant or club management: give the agreed price, receipt or booking details and explain the disputed charge. Ask for a correction when it is safe to do so. Police: ask your hotel or embassy how to make a report safely. Police corruption is a concern, including at the international airport. Armed robbers are rarely caught, so reporting should not be treated as a promise of recovery. Your embassy or consulate: use its official contact details for help with a stolen passport and guidance after a serious crime or a demand for a bribe. Travel insurer: contact the claims service listed in your policy. Keep receipts, incident notes and any report reference.
Reviewed by @snuck