Valentino
Sun Oct 06 2024
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7 answers
1936
What is a risk of using P2P?First and foremost, because they're as fast and convenient for criminals, as they are for consumers, P2P apps—like Zelle, Venmo and Cash App—are favorite tools for modern-day scammers. It's also important to know that, even though they may be associated with your bank account, no fraud protections exist on P2P apps.
Could you elaborate on the potential risks associated with using peer-to-peer (P2P) payment platforms? It seems that while these apps, such as Zelle, Venmo, and Cash App, offer convenience and speed, they also pose a significant threat to consumers, particularly due to their popularity among scammers. Additionally, it's concerning that despite being linked to bank accounts, these platforms do not provide any fraud protection measures. How does this lack of protection impact users, and what steps can individuals take to minimize their risk when utilizing P2P services?
