Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report coming out Monday from the office of Sen. Elizabeth Warren, giving the public its first glimpse into the growing problems at Zelle.
The report obtained by The Associated Press also found that the large banks who partly own Zelle have been reluctant to compensate customers who have been victims of fraud or scams. For instance, less than half of the money customers reported being sent via Zelle without authorization was being reimbursed.
