Concerned about a surge in fraudulent activities depleting bank accounts through widely used mobile payment platforms like Venmo, Cash App, and Zelle, Manhattan District Attorney Alvin Bragg, Jr., has issued strongly-worded letters to the CEOs of these companies, urging immediate actions to safeguard consumers.
Bragg outlined the crimes involving unauthorized users accessing unlocked devices and pilfering substantial sums from bank accounts by utilizing mobile payment apps for purchases and extracting financial information to create new accounts.
Emphasizing the shift in targeting, Bragg emphasized that the most lucrative focus for scammers and robbers is no longer the smartphone itself but the financial apps within it.
