Here's the part that infuriates me:
"Transactions are public by default, and users must manually change their privacy settings if they want to limit visibility. It’s not clear many users know this — or, even if they do, that they fully understand how much other people can see."
It's RIGHT THERE in front of your face as soon as you open the app!!! If you can see other people's business, wouldn't you assume they can see yours, unless you change your settings??!?!?
For the record, a lot of my friends keep their transactions public on Venmo. A social engineer could do a lot with what's being publicly shared here.