07:15 AM EDT, 08/14/2025 (MT Newswires) -- New York Attorney General Letitia James on Wednesday sued Zelle payments network operator Early Warning Services, alleging that it failed to shield its users from "massive amounts of fraud."

Early Warning Services designed Zelle "without critical safety features," paving the way for scammers to target users and steal more than $1 billion between 2017 and 2023, James' office said in a statement.

James is seeking restitution and damages for impacted customers, as well as a court order mandating Zelle maintain anti-fraud measures required to protect its users.

Early Warning Services is owned and controlled by a group of some major US banks, including JPMorgan Chase ( JPM ) , Bank of America ( BAC ) , Capital One (COF), and Wells Fargo ( WFC ) , according to the statement.

Early Warning Services didn't immediately respond to MT Newswires' request for comment.