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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.
Some people have also reported receiving calls from scammers stating that their utility bill is overdue and to avoid disconnection, a payment via Zelle is required immediately. How To Avoid This Scam:
Zelle instructs users in the process of making a payment to be sure to send money only to people they know and trust. It's good advice, and it addresses part of the threat posed by scammers.
Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by U.S. lawmakers and the federal consumer watchdog, in a major policy ...
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.
However, if you want to know more about what types of scams will be covered by the payment app and it’s owners, you’re out of luck. Cash App Scams: Top Scams and How To Avoid Them
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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 ...