New York\u2019s attorney general is suing Zelle, claiming the money transfer app left users vulnerable to scammers who have stolen more than $1 billion.<\/p>\n
NEW YORK \u2014 If you use Zelle to transfer money, you may want to take a closer look at your transactions. The state of New York is now suing the company, saying the popular payment app does not do enough to protect users from fraud.<\/p>\n
New York Attorney General Letitia James claims Zelle users have lost more than a billion dollars to scammers. The lawsuit argues the app does not offer the same protections as credit cards, where fraudulent charges can often be reversed.<\/p>\n
Consumers like Mark Fisher say they\u2019ve been left devastated.<\/p>\n
\u201cI\u2019ve never sent anyone $3,400 on my card. That\u2019s all I had!\u201d Fisher said.<\/p>\n
Manhattan\u2019s district attorney also weighed in, warning,<\/p>\n
\u201cIf there aren\u2019t guardrails, if there aren\u2019t common sense fixes, we\u2019re going to see more of these cases.\u201d<\/p>\n
\nRisks with money transfer apps <\/p>\n
Consumer experts say Zelle is not alone. Apps like Cash App and Venmo also carry risks. According to Consumer Reports:<\/p>\n
If you send money to the wrong person, it\u2019s gone forever.Calls or emails claiming to be from the apps are often scams.Googling \u201cZelle customer service\u201d may even lead you to fake numbers where scammers trick you into logging in and drain your account within seconds. <\/p>\n
\nHow to protect yourself <\/p>\n
Consumer reporter John Matarese says Zelle, like Venmo, can be safe if you are sending money to people you know. But for business transactions, protections are limited \u2014 meaning if fraud happens, you may have little recourse.<\/p>\n
\u201cBe careful and don\u2019t waste your money,\u201d Matarese said.<\/p>\n
Got a story idea or tip? Text us at 713-526-1111.<\/p>\n","protected":false},"excerpt":{"rendered":"New York\u2019s attorney general is suing Zelle, claiming the money transfer app left users vulnerable to scammers who…\n","protected":false},"author":2,"featured_media":79016,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[49,48,190,61],"class_list":["post-79015","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-ca","tag-canada","tag-mobile","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/79015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=79015"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/79015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/79016"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=79015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=79015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=79015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}