According to a recent Pew Research Center survey, 13% of people who used Paypal, Zelle, Venmo or Cash App said they have sent money to someone and later realised it was a scam. Another 11% reported their accounts had been hacked. — Dreamstime/TNS
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.
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