Zelle, the Banks' Answer to Venmo, Proves Vulnerable to Fraud [telecom]

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Zelle, the Banks' Answer to Venmo, Proves Vulnerable to Fraud

The personal payment platform Zelle is flourishing. But so are fraudsters, who are exploiting weaknesses in the banks' security.

... the same features that make Zelle so useful for customers, its speed and ubiquity, have made it irresistible to thieves. Hackers and con artists have used the system to steal from victims - some of whom had never used Zelle or even heard of it until someone used it to clean out their bank accounts.