JPMorgan Chase To Crack Down On Zelle Social Media Scams

If you're a JPMorgan Chase customer and you use Zelle to transfer funds, there's a big policy change coming your way. In one week, beginning March 23, 2025, Chase will enforce a restriction on Zelle payments that it deems a social media scam. If Zelle is an app you use frequently, read on to learn more about Chase's crackdown plans and how they may affect how you send or receive money from family and friends. Read more: Scamming the Scammers: Meet the Deepfake Granny, Digital Bots and YouTubers Fighting AI Fraud Why Chase will be blocking Zelle social media charges Zelle and other digital payment apps, such as Venmo and Cash App, make it easy for scammers to get your money, and many scammers target people on social media. According to Chase, nearly 50% of fraud reports it received from June 1, 2024, to Dec. 31, 2024, came from social media. A December 2024 lawsuit by the Consumer Financial Protection Bureau alleged that customers at JPMorgan Chase, Bank of America and Wells Fargo ... Read full article.