Scammers use peer-to-peer (P2P) payment apps like Cash App, Zelle, and Venmo to steal money. According to the Pew Research Center, 10% of P2P app users have been scammed. P2P apps allow users to easily send money with a phone tap. But if it’s convenient for you, it’s also convenient for scammers.
Vishing or smishing is often used to initiate P2P scams. For example, a scammer may impersonate a bank representative in a call or text to a victim about a “suspicious transaction” on their Zelle account. The scammer will request the victim’s bank login information to resolve the concern but will use the information to steal money. A bank representative will never ask for your username and password to access your account. Stay cyber-secure by only sending money to people you know, and double-checking you are sending money to the correct name, phone number, and username. Also, you should only use a credit card for transactions with strangers, because credit cards have fraud protection. And Gators, make sure to allow app updates (or install them when they become available on your device) for the latest security enhancements, like multi-factor authentication updates and app safety features.
Learn to protect yourself online by becoming more cyber-aware. Schedule a ½ hour to take the https://security.ufl.edu/resources/training/information-security-training/ today.