🛑 What Are #P2PScam cam Payment Scams?

P2P payment apps like Zelle, Venmo, Cash App, PayPal, and regional equivalents are increasingly exploited by scammers.

Unlike traditional bank transfers, P2P transactions are often instant and irreversible—much like handing over cash—meaning if funds go to a scammer, recovery is difficult .

Scammers exploit this fast, final process through diverse schemes such as:

Impersonation of friends, family, or officials requesting urgent funds .

Fake “overpayment” or marketplace purchase scenarios.

Romance or investment-led “pig‑butchering” scams—trust-building over time before large fraudulent transfers .

“Digital arrest” scam: fraudsters pose as police over video calls, demanding money via P2P transfers .

📊 Recent Statistics & Breadth of the Problem

Approximately 8% of banking customers reported falling victim to P2P scams in the preceding 12 months .

A Pew survey found around 13% of users of platforms like Venmo, Cash App, and Zelle experienced scams .

“Pig‑butchering” scams are surging—accounting for over 33% of crypto fraud losses in 2024 and growing ~40% year-over-year .

🔍 Real-World Cases & Trends

Scams often start with malicious .apk downloads (e.g., fake traffic challan or vehicle fine apps), leading to data theft and financial loss .

In India, “digital arrest” schemes have caused losses totaling lakhs of rupees, with tragic outcomes including suicides .

Meta-platforms like Facebook/Instagram serve as major hubs for fraud ads linked to P2P scams, with nearly half of Zelle-related scams traced back to their ad platforms .

🧭 How Scammers Operate

1. Urgency & Authority: Scammers impersonate police, banks, or loved ones claiming emergencies.

2. Fake Apps/Platforms: Victims install counterfeit apps that harvest credentials