Bragg wants payment apps to crack down on fraud

 January 27, 2024

Manhattan District Attorney Alvin Bragg (D) is calling upon online payment apps to crack down on fraud. 

Bragg, according to Fox Business, made the request in letters that he sent to the CEO's of these apps.

This, according to the outlet, includes the CEOs of Cash APP, which is owned by Block, Venmo, which is owned by Paypal, and Zelle, which is operated by Early Warning Services.

Bragg, of course, is the same George Soros-backed district attorney who has criminally indicted former President Donald Trump in a case the legal experts consider to be highly dubious.

The details

In his letters, Bragg calls upon the digital payment apps to make default several security features.

According to Fox Business, the features include "Adding a second and separate password to access the app on smartphones," and "Imposing lower limits on the monetary value of total daily transfers to reduce the amount that could be lost."

The features, according to the outlet, also include, "Requiring wait times and secondary verification of up to a day for large monetary transactions," and "Better monitoring accounts for unusual transfer activities and asking for confirmation when suspicious transactions occur."

Fox Business notes that several of these features are already options for users of these platforms.

Bragg, however, wants the platforms to make these features the default.

"Customers' . . . safety is being put at risk"

Bragg has released a public statement on the matter in which he explained why it is that this problem needs to be addressed.

"No longer is the smartphone itself the most lucrative target for scammers and robbers – it’s the financial apps contained within. Thousands or even tens of thousands can be drained from financial accounts in a matter of seconds with just a few taps," Bragg said.

He added, "Without additional protections, customers’ financial and physical safety is being put at risk. I hope these companies accept our request to discuss commonsense solutions to deter scammers and protect New Yorkers’ hard-earned money."

Cash App, Early Warning Services, and Paypal have all provided statements to Fox Business. The statements are all fairly similar.

Paypal, for example, said:

PayPal and Venmo take the safety of our customers and their information very seriously. In addition to proactively leveraging sophisticated fraud detection tools, manual investigations, and partnering closely with law enforcement agencies to protect our customers against common scams, we have several options in place to enable enhanced layers of security and protection directly within our apps.

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