A recent scam targeting users of popular mobile payment apps has left many feeling vulnerable and confused. With thousands of dollars at stake, it's essential to stay informed about these types of frauds.

The Distressing Experience

Nausheen Brooks, a victim of this scam, is still trying to make sense of what happened. She received a text claiming to be from Bank of America, verifying a purchase. When she questioned the authenticity, she was convinced by a caller who claimed to be a representative, asking questions that seemed real. The scammer told her there was a $3,500 Zelle withdrawal from her account, which was "pending." All she had to do was transfer the money back to herself through Zelle to "reverse" it. Unbeknownst to Brooks, this was just a clever trick to get her to send the money to the scammer.

The Scam's Deceptive Tactics

Brooks sent herself the $3,500 through Zelle, only to realize that the money disappeared. She is still puzzled as to why sending money through Zelle to her own email or phone number didn't reach her. "I was out of thousands of dollars right now because of that," she said. The scammer's tactics included impersonating Bank of America and using a fake phone number that looked like it belonged to the bank.

Similar Scams Targeting Mobile App Users

Darlene Chelsey, another victim, lost $3,500 to scammers after sending the money to herself through Zelle on Bank of America's app. Like Brooks, she received a text claiming to be from her bank, followed by a phone call from someone claiming to be a representative. The scammer used cheap software that routed the call through a specific cell or landline number, making it seem like the call was coming from Bank of America.

Experts Weigh In

Bogdan Bodezatu, director of threat research at Bit Defender, explained how scammers gain victims' trust by impersonating banks with texts and phone numbers. "These attackers have already have victim's information by studying their social media, and they may have sign-in info through software hackers use to hunt for passwords and user names." He also highlighted the importance of not providing authentication codes to strangers.

Prevention is Key

Experts agree that it's crucial to stay informed about these types of scams. To protect yourself from fraudulent activities:

  • Never provide confidential account information to unidentified individuals.
  • Always be cautious when receiving unsolicited calls or texts claiming to be from your bank.
  • Hang up and call the bank yourself if you're unsure about the authenticity of a call.
  • Create unique passwords for each service, rather than using the same password across multiple accounts.

Bank of America's Response

Bank of America, as a partial owner of Zelle, looked into Chelsey and Brooks' claims and credited both $3,500. The bank also reminded clients to be vigilant about scams and not provide sensitive information to unidentified individuals.