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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 ...
A report from Sen. Elizabeth Warren found that four of the country’s largest banks, including Bank of America and Truist, are on track to report more than half a million claims of fraud on Zelle ...
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...
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.
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 ...
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 ...