New York CNN —
Americans instantly zip billions of dollars a day to each other on Zelle and other payment apps to do everything from pay the babysitter to split restaurant bills.
The speed and convenience of these payment platforms have simultaneously made them insanely popular and a magnet for con artists posing as dog breeders, ticket sellers, government agencies or other legitimate services.
Consumers reported losing $210 million to fraudsters on payment apps and services in 2023 alone, 62% more than two years ago, according to federal data. Bank transfer or payment fraud losses spiked
→ Continue reading at CNN - Business News
