(CNN)– New York Attorney General Letitia James is suing the parent company of Zelle over massive amounts of fraud.

The lawsuit was filed Wednesday, Aug. 13, against ‘early warning services.’

The suit alleges that EWS knew for years that certain features of the electronic money-transfer service are susceptible to fraud.

The company is accused of failing to implement safety measures which allowed scammers to steal over one billion dollars.

EWS is owned by several large U.S. banks including JP Morgan Chase, Bank of America, Capitol One and Wells Fargo.

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