I need an Explanation of the core issue(s)
Key Issues
The key issue is the fraud that occurs in Zelle. There are many ways that fraud occurs, issues with cybersecurity,
Cybersecurity Vulnerabilities:
Insufficient User Education :
Transaction speed and Irreversibility:
Policy gaps & Regulation :
Weak Authentication – does not have multi-factor authorization
Limited Consumer Protections –
Delayed Fraud Detection –
Social Engineering/Phishing – people can pose as family members to trick the account holder into sending money or they may impersonate the company to get the user to reveal personal information
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