Peer-to-peer (P2P) payment apps like Venmo, Zelle, and Cash App have made sending money between family and friends easier than ever. But consumers beware: while these apps make exchanging money fast and convenient, they also make it quick and seamless for criminals to steal your money through a variety of tactics.

You might get a message that appears to be from a loved one in trouble who needs you to send money quick through a P2P app. Or you may see a “discount” for an online marketplace product if you make the payment through a P2P app, only to discover the seller is a scammer.

Another common scam involves someone “accidentally” sending you money via a P2P service and then asking you to return it. However, their initial payment will later bounce like a bad check, leaving you responsible for any funds you sent back.

It’s best to use P2P apps to send money to friends, family, and other people you know and trust. These apps do not have the same consumer protections as credit cards. Transactions are like paying cash — instantaneous and usually irreversible. If you receive an unexpected payment, don’t accept it and report it to the app provider.

Learn how to spot and avoid scams with AARP Fraud Watch Network™. Suspect a scam? Call our free helpline at 877-908-3360 and talk to one of our fraud specialists about what to do next.

Need a scam prevention speaker for your group? Send an email to me@aarp.org.