Fraud Is Flourishing on Zelle. The Banks Say It’s Not Their Problem. - The New York Times

Zelle, the payments platform used by millions of customers, is a popular target of scammers. But banks have been reluctant to make fraud victims whole — despite owning the system.

Another Wells Fargo customer, Julia Gibson, lost $2,500 to a similar scam in October. After she reported the fraud to the bank, it gave her a provisional credit for the lost cash. But in January, the… [+1640 chars]

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