Author: Sanchez Martin
Zelle is one of the widely used payment apps for good reasons. It is well-known for sending money easily and conveniently. Basically, it is like a godsend app for users who want a more hi-tech and effortless way to transact.
However, the app’s security is another story. This fact proves that Zelle is far from being a perfect payment app.
While Zelle claims rare reports of fraud or scams, recent news reports say otherwise.
Some victims even say that scams involve immediate utility shutoff threats unless they send money. Because of that, it is vital to know all the relevant things about Zelle scams to protect yourself and your loved ones.
What happens in a Zelle scam?
Based on the reported Zelle scams, they are generally about pure social engineering. This means that scammers manipulate Zelle users through fraudulent information and scare tactics, such as false claims to unknowingly authorize money transfers.
One of the most common forms of scan is an email or text message asking the user to verify a large, fake Zelle payment as bait. Of course, the user will be alarmed, and that’s the start of the scam.
The scammer pretends to represent the bank and walks the user through bogus instructions, which are actually the way to transfer the money to them.
Meanwhile, another popular scam is the message claiming that the Zelle user’s bank account has been compromised. Manipulation works like magic because scammers do not pity victims.
5 Different ways you can get scammed on Zelle
Unfortunately, Zelle scams are getting more sophisticated and complicated to the point that users won’t easily realize they are being scammed.
Here are some tactics you must know to avoid being a Zelle scam victim:
1. Money Mule Scams
This scam is not primarily done on the app because the scammer reaches out to users through text messages, Skype, Telegram, or Messenger. The bait is about a “lucrative work-from-home job” online offer. If the receiver is tempted, the scammer will keep going until the receiver sends the money. Of course, the promise of an online job will not be fulfilled.
2. Bank impersonators
With this Zelle scam, the scammer impersonates a bank employee and sends a text message to the users. Most of these texts are about a claim to either flag “a suspicious login” or a “suspicious purchase” in the Zelle app. If you accidentally click on a link in the text or respond, you can be connected to a bank impersonator who will manipulate you to gain access to your Zelle account.
3. Account upgrade scam
This scam is spoofing- It is a phishing scam in which the scammer deliberately impersonates the representative of the app and talks about an account upgrade. It might not be obvious that it is already a scam because of the manipulative skills of the scammers. Thus, many still fall for this trick.
4. Refund and recovery scams
The refund and recovery scams prove that fact. They choose users who need a refund for a wrong transaction. Since they are in a vulnerable state, they won’t easily realize that they are being scammed with bogus services. Be careful of someone who demands upfront payment regarding the recovery of accounts and funds.
5. Account takeovers
This scam works exactly how it sounds. The scammers get access to your Zelle account and lock you out. Since your app is connected to your bank, they can easily access your money and get it. So, minimize the risk by only logging in using the official Zelle app or website.
Takeaway
If you believe you have been scammed, don’t hesitate to call Zelle’s customer support team at 1-844-428-8542 immediately or contact your bank’s fraud department to report unauthorized transactions. Ultimately, it is more practical to keep in mind that Zelle can be fee-free but not fraud-free.
Always think that you might be a target of a scam, so always doubt too-good-to-be-true offers and don’t easily trust anyone, especially those pushing you to send money.