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Peer-to-peer (P2P) Scams


According to the Federal Trade Commission, there were more than 70,000 reports of fraud in mobile payment apps and $130 million in losses in 2021. If you use P2P (peer-to-peer) apps like Zelle, PayPal, and Venmo, follow these tips to keep your financial information safe:

  • Send money only to people you know. Scammers know and exploit the fact that many peer-to-peer transactions are instantaneous and irreversible.
  • Research customer service contacts and procedures before using an app.
  • Double-check the recipient’s name and dollar amount before hitting “send.”
  • Keep your app up to date to ensure you have the most recent security updates.
  • If you are scammed, file a complaint with the Consumer Financial Protection Bureau at

For more tips on keeping your personal information safe, visit

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