7/26/22-Peer-to-Peer Payment Use is Growing. So Are Scams.

July 26 2022
By: info@njcfe.org
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Peer-to-Peer Payment Use is Growing. So Are Scams.

July 20, 2022 | marketplace.org

You could argue a technology really arrives when it becomes a verb. Over the course of the pandemic, “Venmo me” became a common refrain, with more people turning to peer-to-peer payment apps to send money. And not just Venmo, but others, like Zelle, PayPal and Cash App. But with that growth in use has come growth in fraud. Now, according to The Wall Street Journal, the Consumer Financial Protection Bureau is planning to release guidance pushing banks to pay back customers who lose their money through scams on these apps.

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7/26/22-Peer-to-Peer Payment Use is Growing. So Are Scams.

Peer-to-Peer Payment Use is Growing. So Are Scams.

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