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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 ...
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. ... whether a consumer is entitled to reimbursement," the letter says. Zelle's ...
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...
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 ...
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 ...
The chief executive of Early Warning Services, which runs Zelle, told a Senate subcommittee in July that only 0.1% of the transactions on Zelle involved a scam or fraud; in 2023, the company said ...
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 ...