NY-AG v. Early Warning Services, LLC

Early Warning Services, LLC (EWS) allegedly did not protect its users from fraud. According to NY-AG, EWS designed Zelle without critical security features, which allowed scammers to steal over $1 billion between 2017 and 2023. According to NY-AG, EWS knew that Zelle was susceptible to fraud, but for years did not adopt basic security measures or antifraud rules for its bank partners.

Summary generated from official New York Attorney General press release