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In other scams, bank customers get an email, text or call from what looks like a person or business they know, urging them to send funds through Zelle. “It’s frighteningly easy,” said Murray.
Brian Krebs, a journalist who specializes in online security issues, described how this Zelle scam works: The scammer sends you a text purportedly from your bank, asking if you'd just tried to ...
The email alleges that the buyer paid using a Zelle business account and that the seller must also upgrade to a Zelle business account to receive payment — for a fee of a few hundred dollars.
Consumer fraud is on the rise. "The FTC recently released data that shows consumers lost $8.8 billion last year to fraud, a 30% increase from the year prior," said Debt.com chairman Howard...
Zelle says it should fall on law enforcement to stop the scammers. Scams on payment apps like Zelle are getting so out of hand that federal authorities are starting to investigate.
If you have been one of the millions of unlucky victims to have been swindled out of money by a con artist using Zelle, you may soon be able to receive financial compensation more easily. However ...
The service allows a bank customer to instantaneously send money to a person via their email or phone number, and it will go from one bank account to another. ... of fraud and scams on Zelle in ...
Zelle has long argued its fraud and scam rates are low. It processed $629 billion worth of payments in 2022, according to the network, with 99.9% of transfers made without a fraud or scam report. ...