Earlier quoted context omitted.
Can you elaborate on what kinds of fraud? Like for ex. someone can transfer money from your account, or impersonating someone else, etc?
You buy something online and pay with Zelle. Seller never ships it. You have zero recourse, there’s no chargebacks or anything like that, your money is gone. It’s the same as cash, and you should only use it with people you know. Same with Venmo, and cashapp
This. Or they ship you something that is defective, worth far less, etc., etc.