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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.
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...
Sadly, these sorts of scams are growing increasingly familiar to anyone with a smartphone and a bank account, regardless of whether they use Zelle, Venmo, PayPal or other payment system. In a ...
Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report issued Monday by the office of Sen. Elizabeth Warren, giving the ...
The alert warns of Zelle scams on Facebook Marketplace in which a fraudulent buyer attempts to buy a big-ticket item using Zelle, the popular peer-to-peer lending app, to make payment. See: 9 ...
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.
From 2022 to 2023, Zelle cut the rate of scams by nearly 50% even as the volume of transactions grew 28%, resulting in less money scammed in 2023 than in 2022, said Ben Chance, the chief fraud ...
As the Detroit Free Press reported, bank transfer and payment scams accounted for a loss of $1.59 billion in 2022, followed by crypto fraud ($1.43 billion), wire transfer rip-offs ($310.9 million ...
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