US Banks Witness 1,000% Surge in Digital Scams As JPMorgan Chase, Wells Fargo and Bank of America Customers Lose $166,000,000 on Zelle in One Year: Report

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US banks are witnessing a massive surge in sophisticated digital scams, according to a new report. The number of social engineering scams targeting both US and Canadian bank customers has exploded 1,000% in the last year, according to the cybersecurity firm BioCatch. Social engineering scammers use deceptive tactics to impersonate entities like banks or family members, tricking victims into transferring money or disclosing sensitive information. The new data comes as a new congressional report f...