Senate Finds Zelle Is A Hotbed For Fraud, Scams
Senate Finds Zelle Is A Hotbed For Fraud, Scams
Users of the popular peer-to-peer payment service Zelle have been scammed out of millions of dollars, a new Senate report reveals.
The report, issued Monday 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. 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.
What issues have you had with Zelle?
Senate Finds Zelle Is A Hotbed For Fraud, Scams
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Kim Kardashian To Pay $1.26 Million to SEC for Crypto Touting
Kim Kardashian has been ordered to pay the SEC (Securities & Exchange Commission) $1.26 million.
The payment will settle the allegation that she broke US rules when she promoted a crypto token and did not disclose that she was paid for the promotion.
The SEC said she was paid $250,000 to post on her Instagram account about EMAX tokens.
Kim did not admit or deny the allegations as part of the settlement.
She also can not promote any digital assets (crypto) for three years.
Kim joins DJ Khaled and Floyd Mayweather who have also been fined by the SEC.
Do you understand crypto and how it works? Do you own any?
