CBS News: Zelle faces surge in fraud and scams, Senate report finds. “Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report issued Monday by the office of Sen. Elizabeth Warren, giving the public its first glimpse into the growing problems at Zelle.”
New York Times: When Customers Say Their Money Was Stolen on Zelle, Banks Often Refuse to Pay. “While banks argue that they shouldn’t have to refund customers who inadvertently granted a scammer permission to use their accounts, they have also often been reluctant to refund customers like Mr. Oriach whose money was stolen. That could be a potential violation of the law.”
How-To Geek: How Zelle Scams Work, and How to Protect Your Money. “Zelle is one of the most popular financial platforms of its kind, so it’s no surprise that the platform has been made a target for scammers. Here’s what to look out for and how to avoid a nasty surprise.”
New York Times: Senators question Zelle over how it is responding to reports of rising fraud.. “Senators Elizabeth Warren of Massachusetts and Bob Menendez of New Jersey took aim at Zelle, the popular money transfer app, on Monday, warning that it is putting millions of Americans at risk of being defrauded.”
Ars Technica: Anatomy of a dumb spear-phish: Hitting librarians up for Zelle, CashApp cash. “Here’s a clue for would-be Internet financial scammers: do not target librarians. They will catch on fast, and you will have wasted your time. Yesterday, the outgoing chair of the Young Adult Library Services Association’s Alex Awards Committee (and my wife) Paula Gallagher got a very odd email that purported to be from a colleague within her library system who is a member of YALSA’s board. The email asked, ‘Are you available to complete an assignment on behalf of the Board, And get reimbursed? Kindly advise.’”
The ResearchBuzz Firehose is regular RB content presented as individual posts.
For digest-type posts a couple of times a day, please visit ResearchBuzz.
Want to know how to best use the Firehose for content discovery?
Check out this handy article.