From CNET: Zelle -- the banking industry's answer to PayPal, Venmo and CashApp -- has become a digital payment powerhouse. It's now baked into more than 2,000 banking apps, making it easy (and free) to transfer money instantly from one party to another.
However, the instantaneous nature of payments and the fact that fraudulent payments are often technically authorized by victims makes Zelle vulnerable to criminal fraud. The worst of the worst Zelle scams might even use puppies to prey on victims. Luckily for the victims of Zelle scams, a new change in policy allows banks to claw money back from criminals in certain cases.
View: Full Article
