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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...
At least three of the banks behind Zelle — JP Morgan Chase, Bank of America and Wells Fargo — are discussing a possible new reimbursement plan for customers that get scammed using the service ...
Beware: 19 Dangerous Scam Phone Numbers and Area Codes To Avoid Cash App vs. Venmo: Which Is Better? As the use of Zelle and subsequent cases of fraud on it platform continue to rise, it’s only ...
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 ...
For instance, less than half of the money customers reported being sent via Zelle without authorization was being reimbursed. Fraud, scam cases increasing on Zelle, Senate report finds Skip to ...
A buyer contacts a seller requesting to buy the item and pay using Zelle. If the seller agrees, the buyer asks for the seller’s email address to send the payment. But the buyer does not send ...
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 ...