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Payment App (Person-to-person or P2P) Fraud

Payment App (Person-to-person or P2P) Fraud

06/22/2022

Fraud using payment apps continues in financial institutions across the country. Accountholders are scammed into providing their online banking usernames and passwords resulting in unauthorized EFTs (electronic fund transfers) from their account via P2P (peer-to-peer) or payment apps like Zelle, Apple Cash, Venmo, and others...

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