this post was submitted on 02 Sep 2025
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Canadians with Interac E-Transfer like "What the fuck is wrong with you people" (lemmy.world)
submitted 2 months ago by Stamets@lemmy.world to c/whitepeopletwitter@sh.itjust.works
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[–] AtariDump@lemmy.world 10 points 2 months ago (2 children)

And Zelle is rife with fraud.

https://ag.ny.gov/press-release/2025/attorney-general-james-sues-company-behind-zelle-enabling-widespread-fraud

https://bankingjournal.aba.com/2025/09/north-carolina-federal-court-trims-zelle-fraud-class-action-against-bofa/

https://member.texasbankers.com/Magazine/Magazine/Features/2024-11/24-11-The-growing-concerns-of-Zelle-fraud.aspx

https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-jpmorgan-chase-bank-of-america-and-wells-fargo-for-allowing-fraud-to-fester-on-zelle/

[–] jumping_redditor@sh.itjust.works 2 points 2 months ago (1 children)

actual fraud or people sending money to someone they should have known better than to send money too?

[–] jve@lemmy.world 3 points 2 months ago (1 children)

What’s actual fraud?

[–] jumping_redditor@sh.itjust.works 0 points 2 months ago (1 children)

a platform that let's someone's unique I'd change and then someone else use that same id

[–] jve@lemmy.world 2 points 2 months ago (1 children)

a platform that let's someone's unique I'd change and then someone else use that same id

Huh. Why would you think this would be either necessary or sufficient for “real fraud?”

[–] Peruvian_Skies@sh.itjust.works 1 points 2 months ago (1 children)

Because in any other scenario, the "fraud" can be attributed to user error? I'm not the guy you're replying to but that's what makes sense.

[–] jve@lemmy.world 1 points 2 months ago (1 children)

Can it ?

Is it user error to fall for a bait and switch?

Is it user error if have somebody steals your identity and wrecks your credit?

[–] Peruvian_Skies@sh.itjust.works 1 points 2 months ago

In the context of the platform used being responsible for the vulnerability, yes. If you fall for a bait and switch, you fell for it. Nobody else. And while identity theft doesn't always involve duping the persom whose identity you're stealing specifically, in the context of this conversation it's also due to user error.

[–] lmmarsano@lemmynsfw.com 1 points 2 months ago* (last edited 2 months ago)

Is it much better elsewhere with instant payments/transfers? The EU reports similar fraud issues with their instant payments systems.

In one of its latest reports, the European Banking Authority (EBA) has highlighted a surge in impersonation fraud and sophisticated online and social scams, often leveraging new payment methods such as instant payments.

With the EU, I only see instant payment regulations for enabling the payer to verify the payee

A Verification of Payee (VoP) service informs payers of any discrepancies between the payment account identifier given and the name of the intended payee. Payers will get a result (i.e. “match”, “close match”, “no match” or “other”) before initiating the payment, thereby mitigating the risk of fraud.

and screening of transactions for sanctions. Their payment services regulations

Zelle likewise provides payee name for verification, offers multifactor authentication, and treats payments as irrevocable, so I'm not sure what more to expect here that isn't pretty much the same elsewhere.