P2P (Peer-to-Peer) Fraud occurs when criminals exploit peer-to-peer payment platforms to conduct unauthorized transactions, scams, or money laundering activities between individual users.
Common Types
- Account takeover
- Scam payments
- Unauthorized transfers
- Identity theft
- Money laundering
Attack Methods
- Social engineering
- Phishing attacks
- Fake profiles
- Payment manipulation
- Account compromise
Warning Signs
- Unusual requests
- Unknown senders
- Pressure tactics
- Error messages
- Account changes
Prevention Methods
- Authentication
- Transaction limits
- User verification
- Monitoring systems
- Education programs
Best Practices
- Verify recipients
- Use security features
- Monitor accounts
- Report suspicious activity
- Update credentials
P2P Fraud requires vigilant monitoring and user education to maintain payment platform security.