Chase says 50% of all fraud-related claims circle back to the company’s Zelle customers engaged in transactions on social media.

Starting March 23, Chase Bank will decline or block Zelle transactions initiated on social media. "If you are sending a Zelle payment from your Chase account that is identified as originating from contact through social media,

Scams on Zelle, the digital payments app, have apparently gotten so widespread that Chase Bank is moving to block users from sending payments to social media contacts. Chase updated its user policy, indicating it may block these sorts of payments.