Zelle, the Banks' Answer to Venmo, Proves Vulnerable to Fraud
Big banks are making it easy to zap money to your friends. Maybe too easy.
Zelle, a service that allows bank customers to instantly send money to their acquaintances, is booming. Thousands of new users sign up every day. Some $75 billion zoomed through Zelle's network last year. That's more than twice the amount of money that customers transferred with Venmo, a rival money-transfer app.