Peer-to-peer (P2P) platforms offer fast and convenient ways to transfer money or exchange goods, but they’re also ripe targets for scammers. In a typical P2P scam, fraudsters may pose as buyers or sellers, using fake proof of payment or creating urgency to rush a deal. Once the victim sends money or goods, the scammer disappears without completing their part of the transaction.
Another common tactic involves impersonating customer service agents on apps like Venmo, PayPal, or Cash App, tricking users into revealing personal or banking information. Some scammers even manipulate P2P loan or crypto platforms, offering fake investment opportunities.
To stay safe, always verify the identity of the person you're dealing with, never share personal details or passwords, and avoid sending money to strangers. If a deal seems too good to be true—or you're being pressured to act fast—it probably is. Stay alert and report suspicious activity immediately.