Here’s what you need to know about a trending scam
Zelle® is a fast and easy way to send and receive money with people you know and trust. As always, our clients’ security is a top priority, and we want to make sure you know the red flags that signal scams so you can stay protected. Please watch this educational video from Zelle® and review the information below to learn more about a trending scam.
While Bank of America may send you a text to validate unusual activity, we will never contact you to request that you send money using Zelle® to anyone, including yourself, or to share a code to resolve fraud. If you receive a request like this, it is likely a scammer trying to trick you.
Here are the details of the “pay yourself” scam
- You receive a text message that looks like a fraud alert from your bank about unusual activity. The text may look something like “Did you make a purchase of $100.00 at ABC merchant?”.
- If you respond to the text, you have now engaged the scammer and will receive a call from a number that appears to be from a bank.
- They’ll appear to be a representative from a bank and will offer to help stop the alleged fraud by asking you to send money to yourself with Zelle®.
- The scammer will ask you for a one-time code you just received from a bank.
- If you give them the code, they will use it to enroll their bank account with Zelle® using your email or phone number.
- The scammer now has the ability to receive your money into their account.
What you can do to help stay protected
- Don’t trust caller ID — it’s not always who it says it is.
- Don’t share codes based on a call you receive.
- Don’t be pressured to act immediately.