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A new report from Sen. Elizabeth Warren (D-Mass.), on the other hand, estimates that the number of scam and fraud complaints on Zelle has increased rapidly in recent years.
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.
It's easy to fall victim to the ever-changing scams threatening to rob you of your hard-earned money. With the rise of peer-to-peer payment systems like Cash App, Zelle, Venmo and Paypal ...
File a police report. Most scams are illegal. Even if you can’t get your bank to refund the money, a filed report with law enforcement may be helpful if you eventually have the opportunity to ...
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 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.
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Good news for Zelle users. Thanks to a major policy change that was implemented in November, banks that utilize Zelle will now refund victims of imposter scams. Early Warning Systems (EWS), which ...