Money transfer apps are a convenient way to send and receive money, but scammers can use them to steal your funds.
Bank of America customers earlier this month filed a class-action lawsuit against the bank claiming its use of Zelle comes with a high risk of fraud, The Charlotte Observer reported.
In October, U.S. Sen. Elizabeth Warren released a report that found there were more than 190,000 cases of scams reported from January 2021-June 2022 among four of the banks that partly own Zelle.
