Zelle is being sued by New York's attorney general over a lack of critical safety features that have allowed scammers to steal more than $1 billion from users.
Attorney General Letitia James filed the lawsuit against Early Warning Services, a technology company owned by the country’s largest banks, claiming they failed to protect Zelle users from fraud by not including necessary safety features. An investigation led by James’ office found that between 2017 and 2023, scammers were able to steal over $1 billion from Zelle users.
