I don't use Venmo a lot, but I did notice a "purpose" button when I was in there the other day, I wonder if that's how they figure out which of these transactio

I don't use Venmo a lot, but I did notice a "purpose" button when I was in there the other day, I wonder if that's how they figure out which of these transactions are commercial payments, or if there's some other way to do it. If I remember correctly, the default option was "Personal gift" or something like that. Is it technically fraud to forget to flip that option now? The app didn't explain any of that to me...