Pay back your best friend for lunch? Easy.
Transfer money to your sister for your parent’s anniversary gift? Easy-peasy.
Unsuspectingly transfer money to a scammer. Yes, all too easy.
Peer-to-peer (P2P) apps, such as Zelle, PayPal, Venmo, and Square have increased in popularity and earned a spot as an efficient means of transferring money quickly to other parties. This method of transferring funds is not only a plus for consumers, but fraudsters as well who are always on the prowl for new ways of scamming their victims.