Risk number 1 is P2P exchange, risk number 2 is to hold money on a centralized exchange, risk number 3 is the use of bank cards for exchange.
With such risks, the probability of getting problems is very high and you need to distance yourself from these risks as much as possible.
Well, P2P is one of the best and quickest way to convert your bitcoins to fiat and vice versa and it is the only option in parts of the world where the bitcoin is not legal.
To minimize the risk, one can deposit a small amount at the centralized exchange, perform a P2P transaction with limited funds only (many small transactions instead of one big transactions) and then (in case they have bought bitcoin), get the bitcoin withdrawn from the centralized exchange to the personal wallet. If one has a large amount to do the conversion, they should follow the process over and over again without exposing too much money at a single time.