Scammers are using Zelle, a p2p payments service, to defraud online buyers who trusted the service because it is backed by US banks
Scammers have taken to Zelle, the Venmo alternative backed by U.S. banks, to defraud consumers who believe the service includes the same protections they've come to expect from PayPal.
There's a law called Know Your Customer/Anti-Money Laundering http://en.wikipedia.org/... requiring banks to identify customers. Zelle claims they can't track down thieves receiving money: http://techcrunch.com/... That means banks are violating KYC/AML and can be fined.