Many people use payment apps, like Zelle®, to send money to friends and family. With the rise of digital payments and third-party payment apps, there’s also an increasing number of scammers trying to take advantage. Learn how to spot the latest scams and know fraud when you see it. Protect yourself—and your money with a secure VPN.
Here are some of the latest scams:
- Impersonating a Bank associate
Scammers will try to pose as a representative from your bank or credit card company and ask you to provide your personal information or even transfer money by phone, text or email. They might also use a fake caller ID that could show up as your bank or credit card company and request remote access to your device.
NOTE: When in doubt, hang up the phone and call the number listed on the back of your debit or credit card.
- Pay yourself
Scammers may contact you impersonating an established individual or company and tell you that they have noticed suspicious activity, such as money being sent from your account to another account. They’ll ask you to send the money to yourself with Zelle® to reverse the payment.
NOTE: No bank or credit card company will never ask you to do this. Before sending money to yourself at another bank or credit union, make sure the email address or U.S. mobile number you’re using to send the money has been enrolled with Zelle® at the other financial institution and is linked to your account.
- Attempting to gain remote access to your devices
An unknown company or person will request remote access to your phone or computer. They may also ask you to download an app to fix an “issue,” which would allow them remote access and could expose your account information.
NOTE: Be careful when giving device access to third parties.
- Fake websites
Legitimate-looking websites are being created by scammers, and a quick Google search will lead you to a real-looking phone number. When you call, they’ll try to obtain your sign-in details or other information.
NOTE: Always do the proper research before making a purchase online.
- Fake Fraud Alerts
Beware of fraud alert texts asking if they performed a Zelle® transaction for a large amount. This fraud alert is NOT from the bank or credit card company. These messages are coming from fraudsters. Once the member responds to the fraud alert text, the fraudster will call the member pretending to be bank or credit card company. They then ask to change/obtain the member’s online banking information. If successful, they begin sending money out of the member’s account to their account via Zelle®.
- You will NEVER be asked for your PIN.
- You will NEVER be asked for your online banking password.
- Don’t click any links or phone numbers in the text message. Instead, exit the text and call the bank or credit card company directly.
- Remember to check your account daily and report any unusual activity.
Protect yourself and your family.
Neither Zelle® nor any bank or credit card company offers a protection program for authorized payments—for example, if you buy an item with Zelle®, but you don’t receive it or it’s not what you expected. If this happens, you may not get your money back, so only use Zelle® and third-party payment apps to pay those you know and trust.
Protect all your online transactions with a secure VPN