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A scammer pretending to be a potential buyer contacts you and asks to pay for the item through Zelle. Once you agree, the scammer will then repeatedly ask you if you’ve received the payment.
Fraudsters are likely drawn to Zelle for its ubiquity and ability to instantly transfer cash directly from a bank customer’s account, said Teresa Murray, a consumer watchdog for U.S. Public ...
Kevin Roundy, senior technical director of the internet security company NortonLifeLock in Culver City, said other payment systems see more scammers than Zelle: "There are 30 times as many PayPal ...
As the Zelle website states, “Unlike a credit card, Zelle does not offer a protection program for any authorized payments made with Zelle — for example, if you do not receive the item or the ...
Zelle allows you to cancel a payment if the recipient isn’t enrolled with Zelle, but it may offer a reimbursement for money you sent to an imposter scammer, depending on the circumstances ...
Cashless P2P (peer-to-peer) transaction apps are great and have unequivocally made our lives easier, but as is the case with any emergent technology, scammers are quick to find ways to exploit ...
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 ...
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 ...