Jpmorgan Chase to take action

If you are a JPMorgan chase and you are using Olive To transfer money, there is a major change in politics on your way. In one week, starting from March 23, 2025, Chis A will impose Zel payment restrictions It is considered a Social media fraud.

If Zelle is an application you use frequently, read to learn more about Chase’s Crackdown plans and how it may affect how to send or receive funds from family and friends.

Read more: Imagine fraudsters: Meet Deepfake, digital robots and YouTube men fighting Amnesty International fraud.

Why is Chis to prevent Zelle’s social media fees

Zel and others Digital payment applicationsLike Venmo and Cash, make it easy Fraudulent For your money, many fraudsters target people on social media. according to ChaseNearly 50 % of the fraud reports he received from June 1, 2024 to December 31, 2024, came from social media.

A December 2024 lawsuit By the Consumers Financial Protection Office claimed that customers at JPMorgan Chase, Bank of America and Wales Vargo lost more than $ 870 million through Zelle payments since the launch of the application in 2017. While CFPB The lawsuit was droppedIt still raises the warnings that customers are at risk using the digital payment application. And since Zelle does not provide any protection for purchase, once your money is sent to the application, you are unlikely to regain it.

With its new policy, Chis hopes to stop fraud before it happens. It has been updated Zelle service agreement It will be allowed to decline or prevent payments that she believes have arisen on social media. The bank may also delay or carry payments so that it can request information from you to ratify the transaction, such as checking your identity or the sender or details of the recipient’s identity and payment details.

Other methods can safely send money to send money

If you want to send or receive money through your Chase account, there are many safe ways to do this. Chis partners with many Other digital payment serviceslike PayPaland Apple’s wageand Google paidSamsung Pay and Paze.

The money should not be sent by applying the payment to a person you do not know and trust. It also helps to know Signs of fraud So you can avoid falling into the traps of fraudsters.