New York's attorney general has filed a lawsuit against Zelle's for negligence in protecting consumers by allowing more than $1 billion in theft.

New York Attorney General Letitia James has filed a lawsuit against payments platform Zelle, accusing it of ignoring essential security measures and facilitating massive thefts of consumer funds. The complaint details instances of fraud, including unauthorized transfers and scams involving fictitious goods. Zelle denies the allegations, saying most transactions are fraud-free, but has recently implemented security measures under pressure from authorities. The lawsuit seeks stronger anti-fraud protections and compensation for victims.