Fraudsters like utilizing P2P apps in their scams because the transactions are often instantaneous and irreversible.
P2P apps are designed for users who know and trust each other—and those are the only circumstances under which you should use them.
If you’ve fallen for a P2P Scam, there’s a good chance that your funds are lost for good, but it’s still important to respond quickly to limit damage and help others from being similarly targeted.
Immediately contact the P2P app or your financial institution to explain that the transaction was fraudulent and seek assistance with retrieval.
If you do not receive the support you need, contact the Consumer Financial Protection Bureau at consumerfinance.gov and file a complaint.
At Morgan Stanley, safeguarding your assets and personal information is among our highest priorities. Learn about our security measures and use our resources and ideas to help protect yourself online.
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