(WCMH) — The money transfer app Zelle was supposed to be safer than Venmo.
It is run by the nation’s largest banks, but a new report says it is fast becoming the top choice of scammers trying to empty your bank account.
Michelle Hoeting received a text message earlier this year that is now targeting so many people.
It said her bank was locking up her account.
Catina Brown received a similar fraud message from her bank.
“It said, ‘Well someone is trying to send $5,000 from your account,’” she told us.
But in both cases, the text was a scam, designed to get you to give your banking information.
Now, Krebs on Security says fraudsters are using the banking industry’s transfer app Zelle to make millions of dollars with this scam.
Once they get your login, they use Zelle to clear out your account.
The FTC says if you get a suspicious text from your bank:
- Do not click any links.
- Do not call a phone number in the text.
- Never give your account number to someone you don’t know.
How do they know you are a customer of a certain bank?
They don’t, but by using major bank names there’s a good chance it could be your bank.
So be careful and don’t waste your money.
“Don’t Waste Your Money” is a registered trademark of Scripps Media, Inc. (“Scripps”).
Like John Matarese Money on Facebook
Follow John on Instagram @johnmataresemoney
Follow John on Twitter (@JohnMatarese)
For more consumer news and money-saving advice, go to www.dontwasteyourmoney.com
