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Video: Protect Yourself from P2P Payment Fraud
Watch this video to learn how to protect you and your business from Peer-to-Peer Payment fraud.
Summary: Peer-to-peer payments make sending and receiving money simple, but they also create opportunities for fraud. This video highlights key steps to stay secure, including using trusted contacts, enabling authentication, choosing safe payment sources, avoiding risky apps, and keeping software up to date.
Transcript:
Peer-to-peer payment apps make money transfers effortless,
but their convenience also makes them a prime target for scammers.
Learn how to protect yourself or your business from fraud attempts.
One – Pay and receive money only with people you know.
Two – Set up your app to require a passcode, PIN, or fingerprint before paying.
Three – Use a protected payment source, like a debit or credit card.
And try to keep only one payment method connected at a time.
Four – Stay away from apps that have bad customer reviews or a history of data breaches.
Finally, keep your software up-to-date to ensure it has the latest security protection.
Bonus Tip: Along with implementing internal controls, like transaction limits, businesses should also educate their employees about safely using P2P technology.
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All content is for informational purposes only and does not constitute legal, tax, or accounting advice. You should consult your legal and tax or accounting advisors before making any financial decisions.