Manhattan DA Warns of Surging Fraud Risk with Venmo, Zelle, and Cash App

Manhattan District Attorney Alvin Bragg has sent letters to the owners of Venmo, Zelle, and Cash App, expressing concern over the vulnerability of users to fraud and theft through their mobile financial applications. The DA cited a growing number of incidents involving unauthorized access to unlocked devices, resulting in significant financial losses and even physical harm to residents. Bragg demanded that the companies adopt additional security measures, including transaction limits, secondary verification, and better monitoring of unusual activity. The companies have been called upon to meet with the district attorney to address these issues.