In the realm of P2P transactions, particularly in Pakistan, scams are prevalent. Here’s a breakdown of how users become victims and practical measures to safeguard your funds.
1. How P2P Users Become Victims of Scammers
Fake SMS: Scammers send fraudulent SMS and screenshots claiming payment has been made. Always verify your bank account before releasing crypto; only accept payments from the sender’s name.
Chargeback Scams: Scammers may send money via JazzCash or EasyPaisa and later cancel the transaction, claiming it was accidental. To avoid this, refrain from accepting payments through these methods unless the funds are confirmed in your account.
Bank Calls: A buyer may claim to have sent money by mistake, leading to account freezing. Protect yourself by following the methods outlined below.
2. Security Measures to Avoid Scams
Trade with Verified Merchants: Only deal with merchants who have a completion rate of 98.2% or higher and a positive feedback rate above 92%.
Trade History: Choose merchants who have completed over 1,000 trades, particularly 100+ in the last 30 days.
Consistent Trading Partners: Once you find a reliable merchant, consider trading exclusively with them to reduce risk.
3. Best Method to Avoid Freezing of Funds
To prevent your account from being frozen due to receiving questionable funds:
Open Two Bank Accounts: For example, use MCB for crypto transactions and UBL for personal use.
Immediate Withdrawals: Once you receive a payment in your MCB account, withdraw it immediately from an ATM and confirm the order on Binance.
Separate Transactions: Never transfer funds between your MCB and UBL accounts. If your MCB account gets frozen, your UBL will remain unaffected, safeguarding your funds.
Conclusion
By implementing these strategies, you can significantly reduce the risk of falling victim to P2P scams and protect your assets. If you found this information useful, consider sharing it with others in your network to promote awareness.
Feel free to ask if you need more insights or specific tips!
