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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.
The online-payment platform Zelle is extremely popular with consumers, which helps explain why it's also become a hit with scammers. ... From 2022 to 2023, Zelle cut the rate of scams by nearly 50 ...
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 ...
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 ...
Scams on payment apps like Zelle are getting so out of hand that federal authorities are starting to investigate. This week, the Consumer Financial Protection Bureau launched an investigation ...
JPMorgan, Wells Fargo, BofA facing federal lawsuit over Zelle payment network fraud. ALEX VEIGA. Updated December 20, 2024 at 1:04 PM.