It happened to me and now the Senate says it’s happening too much! Apparently, a new senate report finds users of the popular person-to-person payment service Zelle have been scammed out of millions of dollars. The report, issued earlier this week by the office of Senator Elizabeth Warren, reveals 192,878 cases of fraud have been reported since the beginning of 2021. The total amount lost: $213.8 million. $2400 of that was mine! What’s more is an investigation into Zelle found that less than half of the victims — about 47 percent — were issued refunds for the unauthorized transactions, per the report. Since Zelle launched in 2017, more than $500 billion has changed hands through the service, according to parent company Early Warning Systems.
Want to read my experience? The gory details are below.