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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.
The email alleges that the buyer paid using a Zelle business account and that the seller must also upgrade to a Zelle business account to receive payment — for a fee of a few hundred dollars.
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 ...
In a spoofing scam, you'll get an email, a text or a call that appears to come from a person or business you know, urging you to pay them through Zelle — in some cases, ironically, to protect ...
Zelle says it should fall on law enforcement to stop the scammers. Scams on payment apps like Zelle are getting so out of hand that federal authorities are starting to investigate.
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...
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 ...
4) Monitor your accounts: Keep an eye on your financial accounts, email accounts and social media for any unusual activity. If you think scammers have stolen your identity, consider identity theft ...