Bank of America recently sent a customer service email warning users to watch out for this new phishing attack.
Threat actors are sending realistic texts requesting that you send money using Zelle® as payment due to a “fraud alert.” These texts make the warning look legitimate, and if you respond to the text then you’ll receive a call from a fake representative.
This person will use social engineering techniques and will trick your users into asking for you to send money to yourself through the Zelle® payment method. In reality you’ll be sending the money directly to these scammers’ pockets, and they will be able to receive your money into their account.
Check out this 1:22 animated video from Zelle on how to spot this type of scam and share it with your users: