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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.
Consumers enroll in Zelle through one of more than 1,700 participating banks or through the Zelle app, then use it to send money directly from their bank account to another Zelle user's bank ...
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...
If you have been one of the millions of unlucky victims to have been swindled out of money by a con artist using Zelle, you may soon be able to receive financial compensation more easily. However ...
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 ...
• Fake email addresses - Malicious actors sometimes send from email addresses made to look like an official email address but in fact is missing a letter(s), misspelled, replaces a letter with a lookalike number (e.g. “O” and “0”), or originates from free email services that would not be used for official communications.
The service allows a bank customer to instantaneously send money to a person via their email or phone number, and it will go from one bank account to another. ... Truist had 9,455 cases of fraud ...
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.