Zelle is a popular payment system for millions of people. But fraud cases involving the company have allegedly exploded.
For example, in the past 18 months, consumers had allegedly reported over 192k Zelle fraud cases, according to major banks. It is also reported that only about 3,500 cases had so far been reimbursed.
Should victims of scams through Zelle be reimbursed?
Not everyone agrees, though consumer advocates believe that customers should be protected so as to allow them to recover money that might have been lost.
Banks have reportedly reimbursed some customers after they lost money when crooks went through Zelle to scam them. Not everyone has the same ending though. Now politicians are also getting into the mix, urging the company and banks to do more to protect consumers.
With so many people using Zelle these days and the issue circulating with some being victimized it has presented an opportunity for consumers to be made aware of the risks that can circulate with payment processing systems.
$200 million+
With all of those fraud cases it adds up to consumers reporting losses in the millions.
pics:
pixabay
sources:
https://www.wfla.com/8-on-your-side/better-call-behnken/zelle-fraud-cases-explode-customers-lose-millions/
https://www.q13fox.com/news/chase-customers-outrages-after-reports-of-scams
https://abc7news.com/zelle-fraud-rental-scam-fake-apartment-landlord/12739119/