Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

What are the risks of not using an escrow service for formal giving platforms?

There are a number of risks associated with not using an escrow service for formal giving platforms, including:

The possibility of fraud or theft
The donor may not receive their donation
The recipient organization may not receive the funds
The donor or recipient organization may be held liable for taxes or other fees