Bank of America gives refunds to some victims of growing Zelle scam

Bank of America has offered refunds to only some of the victims of a scam that uses quick-payment app Zelle to transfer funds out of their accounts. abc7ne.ws/3DvrHI6
#zelle #fraud #scam

[@ln14517]

Zelle is full of scams. If you make a simple mistake by sending money to the wrong person you have to depend on the kindness of the receiver. Tip always send $1 first and get a confirmation before sending the full amount of money.

[@witnesstruth7457]

Good tip, thank you.

[@ConradOMalley]

And also make them send you the $1 back.

[@eagleeagle7802]

That's what's I do I sent one dollar first then call 📞 the person to see if they have received

[@lakeylaford23]

Yes!

[@ericworthington7299]

I've done that before.

[@NatNun]

I once accidentally sent $200 to the wrong person through Zelle! I was one number off in the phone number that I meant to send it to. Only thing I could do was call that person and ask for my money back. Thankfully he was a nice man and returned it. Good karma 🙏

[@FaithandNova]

That was so nice ❤️❤️

[@maximillion2115]

Make sure you don’t make mistakes next time

[@alexaecho4273]

@@maximillion2115 thanks Sherlock.

[@maximillion2115]

@@alexaecho4273 looks like you were another victim of ignorance .

[@lewie5913]

Why doesnt zelle give you a code or something you send to the recipient intended and they use it to unlock the transfer?

[@bionicwoman9884]

Why would you think that a bank representative would ask you to transfer using Zelle to fix illegal transactions. That should have been a red flag.

[@sevenclipclop]

Ikr, it’s thousands dollars

[@missprettyhyna]

I thought the same thing.. like how naive lol especially if you are young and know how to use apps check your account , lock your card and investigate further.

[@FaithandNova]

I still don't get how ppl still fall for this. I tell ppl if they don't feel comfortable with the call hang up and call the number on the back of your bank card to confirm.

[@tiannimyers1204]

The look of the text message should have been a red flag.

[@thatcookmoniii]

@@missprettyhyna exactly! I received similar text and the number did not align with the BOA number so I reported it online through email. You always have to check your account via app or call it to verify.

[@animechic420]

Whenever I get one of these things telling me that money was taken out of my account, I checked my account first to see if anything was taken out.

[@ro7601]

That’s common sense

[@animechic420]

@@ro7601 Some people get too nervous to even do that.

[@juicyfruit6311]

Then, call the bank and report it.

[@tryingagain5123]

Me too. I would have checked my account for all the transactions they were asking me if I did

[@doctordl7757]

This is real journalism, helping the people.

[@themoongoddess1190]

It's still not the Bank's fault. It's up to the consumer to be more proactive and handle their own account.

[@tracywarfel3419]

I got this same scam. I was smart enough to not transfer money. Lol. I mean come on what bank calls you to transfer money. I hung up and called the bank to double check. They said did you tell them any info. I said no. I mean come on now! We all know there are scams out there.

[@renneedwards9826]

💯👀💅🏾

[@yishaq6493]

I mean come on now lol

[@nashvilleantiques8691]

C'mon man that was 3 week's ago *Corn Pop*

[@Cinnamun52]

Very smart, Tracy.

[@juliorobinson5386]

Jimmy from South Park lol. I mean come on!

[@A22DNAL]

1:10 - 1:12 "How on EARTH would a sane and rational person think someone calling you to tell you to transfer your money to an email address sound "safe"?!?!

[@queentinadoire6931]

I know right. I do not know how these people make these mistakes.

[@lance7973]

Most people aren’t very bright and lack common sense, and lots of them aren’t even willing to protect themselves.

[@yankeesusa1]

Please people.... No bank calls you asking for money. Common sense. How do you think this is real??

[@user-kolba]

Those people are dumb enough

[@Comeswoopfam]

I’ve had chase call me, but that’s because I owed them money

[@alcoholicsensei]

Common sense would've told me something is fishy but that's me. I always go to my bank if I have issues.

[@xtrey19x]

2:20 your bank can have all the top of the line security it wants, but none of that matters when you’re the one transferring money to scammers.

[@michaelrivers5213]

Nailed it!

[@Elite_Employee]

There’s a nice man with a pistol at my bank guarding the front door. Would he be able to help me get the money i transferred out of my zelle account to a scammer ?

[@Nik_Marie]

No, none of that matters when their customers aren't bright enough to not give their money away

[@peterd788]

If a bank calls you you should say you will call them back on their published number. A bank will never call you and ask you to conduct a transaction. My bank in the UK does sometimes message to say a secure message is waiting and I should log on or use the app.

[@nevvaworry5451]

FYI: Noooooo Bank 🏦 will EVER ask anybody to Transfer Money 💵.. Learn this almost 10 years ago (UNFORTUNATELY its a NAIVE person born Everyday) Glad U guys Received ALLLL Ur Monies 💵 back in Full 🥰

[@mannyflores470]

It would be cheaper for BofA to send an email advising of this scam so people don't fall for it.

[@ldyrck]

Ppl dont read! They don't even open their mail...but will fall for a silly scam

[@pamv8622]

It’s all over the news. How do these people not know about this....

[@user-jy7yw5kw3w]

99% people who fall for these scams are people who aren't so tech savvy. I think a physical letter in the mail would work better.

[@kdoc19961]

While I am glad they got their money back the bank was not at fault. The bank is not responsible for your stupidity. The phone call should have ended once they asked for you to transfer money.

[@sinebar]

It's not stupidity! It's panic combined with not informed about these scams. What's stupid is blaming the victim.

[@dianelucas615]

I was a victim of a Zelle scam, these evil people that do these fraudulent scams are VERY Smart at what they do and have perfected their craft as technology has advanced and everything, including banking; is done online. It makes me sad that people who haven’t been a victim to these evil , sneaky and very smart scammers call people who have been duped Stupid and Idiots! Until you or someone you love falls victim to them , you cannot know how they make even the most intelligent people believe what they are telling you what to do. I feel very stupid and beat myself up after I lost $3,500.00, nobody had to publicly humiliate me because I was already humiliated by falling for this scam, it happened so fast and in a matter of seconds; before I even knew what was going on the money was gone! I called CMPD and made a police report as the bank representative said to do and the Officer who works in Cyber crimes told me not to be so hard on myself; she said Charlotte alone gets hundreds of these reports a day or week! So please, before you judge a person who fell victim to these professional Evil Scam Artists; just remember that no matter how smart you think you are it CAN happen to you or someone you love! Thank God we have this great team of investigative journalists who are aware of this situation and is helping people who lost money and educate the public to beware of these very real and very Sneaky Scams and the Evil Scammers behind them! Thank you for excellent reporting!

[@user-zc6eg4ez4e]

Very well said. No person would want to become a victim. Each of us has our reasons. And we're humans after all.

[@EMC1986Hobi]

How did she fall for this? I'm sorry she gave her info freely and agreed to the transfer.

[@melechdomeyhwh]

Beautiful

[@lisadelpeche3371]

Sometimes you just don't know. BOA does send text if there is strange activity in your account. Those people got scam were nervous and thought nothing of it.

[@penelopepitstop762]

My teenage son overheard me watching the video and just yelled from the kitchen that they were stupid lol.

[@Nik_Marie]

@@lisadelpeche3371 they text you if your card wasn't present for purchases, but they also say for you to call them. And they definitely won't ask you to email yourself that money. That sounds stupid

[@dianelucas615]

OMG! Sooo judge mental! Just wait until something happens to you or someone you love, these scammers KNOW what They are doing! They’re getting better at their craft everyday and un

[@ekim8958]

I'm not gullible when I receive these text notifications or calls that come from IRS, banks, etc. It's all scams. Be careful people and good job for getting their money back. 🙌🏼

[@mrmiagi6052]

Wouldn’t you just look at your bank app and see if it’s true? It’s not like they didn’t have a smartphone

[@couch_nap]

exactly! i always check there first!

[@lothean2099]

A bank will never ask you to transfer money. Stop using these cash apps.

[@akui88]

if someone CALLS you, don't provide any information, if you get sent something in an email or text, don't click on the links, don't call the number in the email, lookup the customer service number from your bank statements or from your bank app...

[@katiesimmons5877]

When banks want to verify whether or not a charge is valid, they NEVER tell you to send in money. Does no one have a brain cell anymore?

[@missaamane8580]

Apparently not

[@TATNThisAintThatNetwork]

What’s that?

[@h27764]

Set up transaction alerts. If I’m told that there are transactions on my account first thing I’m doing is opening up my app to see if the transactions are actually there

[@Nik_Marie]

I get notifications for EVERYTHING

[@sinebar]

I have mine set to anything over $100

[@tiannimyers1204]

People are so dumb. I’m sooo glad I am introverted and smart. I don’t even answer the phone lol

[@-_Somebody_]

Same. Plus I block random numbers especially if they don’t leave a message.

[@queentinadoire6931]

Introverts are winning during this pandemic. We do not talk to strangers or take instructions from them.

[@WSTofKMT]

So people aren't being held accountable for anything anymore then right?

[@bmaurie]

The bank that I work for has a limit for first time transfers to avoid this type of situations and customers are always upset comparing us to other banks that allow bigger transfers. I wished more people kept this in mind when facing certain protection financial institutions may apply. I have also had cases where customers stating they were ‘scammed” continue to send money not taking precautions and the problem is there is no way to know wether it’s true or not.

[@becky5937]

Which bank because it may be time for me to switch?

[@love2CUsmile86]

Banks shouldn’t pay for stupidity.

[@manda9908]

You should only ever send a Zelle to family members or friends! None of this to a 3rd party/ seller . Also if you are going to send money to yourself there is a process which it is called an external transfer to your other bank. We need to be alert more than ever !

[@chrism8180]

You can register your other banks Zelle with a different email or phone number to send yourself money also

[@manda9908]

@@chrism8180 very true!!! if people know how to use it right Also remembering what emails and number they use to register their bank accounts. 🙂

[@manda9908]

@spirals 73 oo wow !!! And you only process it once and it sends it twice ?

[@davz203]

this is terrible, no bank would tell you to transfer funds out of your account over the phone if fraud was suspected, theyll freeze your account...let alone from a zelle type of app...poor victims did not know better

[@vidpro1786]

Do not use Zelle period. Ignore bogus messages and phone calls. Call the bank manually on a landline.

[@mhm6]

Ehhhh gonna disagree with ya. If you know how to use Zelle and not be an idiot, then use it.

[@BJ72095]

Zelle, Cash App, and Venmo are all fine. I feel bad for saying, but just don’t be stupid like falling for a phone call/email of people asking for your info.

[@user-kolba]

@@BJ72095 100%

[@bellaapple2166]

@@mhm6 It's so disturbing how gullible so many people are. Why would a bank have you transfer your entire balance to your email address. That doesn't even sound like something a bank would do. People have to use their brain.

[@FaithandNova]

@@mhm6 Zelle is garbage, you pay for something and get scammed even through a legit company Zelle doesn't give your money back. They offer no insurance

[@weldinggirl]

What’s is even more sad is that this video is 2 days old and only has 12k views, but boy KZbin will surely put those funny kitten videos in our recommended 🤫🤭🤔😬

[@thoughtstorn854]

Hello beautiful

[@Dr.Frankensteen]

And KZbin will also suppress real scientific data in order to keep fueling fear rather than let people make informed decisions

[@randominternetuser2888]

@@Dr.Frankensteen data from when? Do you think science is a stagnant practice? Or do you understand evolution and change as a universal constant? It's very telling that you think youtube is a research hub for good information 🙄

[@Dr.Frankensteen]

@@randominternetuser2888 Yes, science does evolve. We all know this information. Unfortunately, Big Tech likes to suppress science that doesn't go along with certain narratives. For example, look at covid. How many times have people received strikes for using CDC data, but since it didn't go along with the verbal narrative they were marked as "misinformation"? I'm not saying Dr. John Campbell is right when he talks about how injections are being given incorrectly, but the fact he discusses these matters and gets a video removed for his scientific opinion should be alarming. It should be even more alarming that Big Tech is agreeing to work with this administration to limit what they deem "misinformation". Have you seen people getting their videos striked or removed by KZbin when they say "The covid vaccines prevent infection and transmission"? No, you don't even though the science says otherwise. That is a completely false narrative and goes against both CDC information (at least on their website) and all studies regarding the vaccines. But if you actually say the real science that they don't prevent transmission or don't even prevent infection, you get strikes for saying that. But if you talk about how cloth masks are ineffective at preventing spread, you get a strike. Even though, we've had multiple random control studies that show they aren't effective, though N95 are. This is what I'm talking about. Not talking about flat earth bullcrap like that.

[@grimmjow714]

You need a video to tell you to use common sense?

[@davidderler5924]

I don't do any transactions over the phone. I only do in person or send a check for a bill. Never trusted phone or internet ever. I was told I am behind the time's , I said I'm ok with that.

[@Puffley]

You are my heroes! I can’t thank you enough for all the work you do for us!!!!

[@fredmartine674]

There are scams out and some of them are too good to be true. One time I got a call saying I won a brand new 2020 Silverado but I would need to send some money to claim it, I told them I already have 3 Silverados parked in front of my house and don't need another one, plus told them I don't like the new 2020 body style. I already knew it was a scammer when I answered the phone call.

[@francisgill1929]

Lol, I got 3, that is so funny,

[@adamenglish1154]

Seems like there are people who are working from within the bank staff who are helping the scammers with denying customers claims. In order to help cover up the scammers tracks.

[@elizabethhartman3924]

BOA along with the other owners should send text reminders not to transfer money to inbound callers. If anything the person should hang up & call the bank first!

[@feraluprise]

BofA DOES send a text. as soon as a Zelle transfer occurs. regardless if its valid or not. and it does say "We will never ask you to trasnfer money....."

[@justinedse3314]

@@feraluprise They send no such thing

[@ebitdareadthebook1535]

Props to BAML and ABC7 for helping. This is not BAML's problem at all. If only people had more common sense, this would not be an issue. No bank would ever request something ridiculous like that.

[@NathanKull]

I'm guessing that for this to work these people have compromised email accounts as well, kind of surprised to not see that mentioned. If you share your email password with anything else, or if your email password is easy to guess, and if you have not changed it in years, consider doing better.

[@chrism8180]

Well you guess wrong, it has nothing to do with email passwords

[@NathanKull]

@@chrism8180 explain? If they send to their own email, that would indicate to me that their email is compromised since the funds are being intercepted at that address. What am I missing?

[@chrism8180]

@@NathanKull they have your email address, not your password. They get this because companies sell off your personal info, which should be common knowledge by now. You get more spam emails than real ones and it would be clear cut to tell the difference between a scam, and a real B of A email, if that person had half a brain

[@51colibri]

How can they believe something like this? Even when I get a letter with any suspicious info, I call the bank with my own numbers to confirm.

[@minoltaaraya]

Thank you for helping these sweet people but COME ON NOW… never, ever, ever transfer money through an app to a stranger on the phone… like what?

[@topcat5988]

Finally, real journalism!

[@stanley4200]

Let address a larger question. Banks know these cash apps are being used for fraud transactions put a 24/36 hour hold on them to give there customers one more level of protection. Usually someone know within a few hours if they got scammed.

[@lisalee3067]

These people need to learn how banks work. They should know better.

[@hiroshitakama]

Thank you, Michael as always.

[@johniii8147]

Some people are so naive or just stupid. Your bank doesn't call you and tell you to transfer money of your account to a third party to "protect your account". That's crazy people fell for it.

[@msway836]

LOL mostly elderly seems to have fallen for this scam, and those who have never had an bank account....

[@LTAries88]

Thank you 🙏

[@justrandomthings319]

Never ever ever have I seen a bank account hacked. It's usually people falling for scam.

[@blomegoog]

Banking at this evil bank is mistake #1. May as well sign up with Wells Fargo too.

[@Calinotch06]

The feds need to do more about scammers being able to call, text, and email us - also being able to set up all of these financial scams.

[@Saigon1969]

Come on man if a bank tell to transfer your money that is a red flag. I don’t need a 7 on your side for this. This is 2021 are they still fall for this? Lol

[@msway836]

LoL, you be surprised of the thousands that didnt hit the news, back in the day it use to be send money thru western union, now its more simpler i guess...

[@gsouldies2099]

You guys are awesome thanks for helping those people.

[@Idolmakercat]

I got one or more of these. I immediately hit trash on my phone. I am glad I saw this coverage.

[@ronaldmcdonald3965]

Remember the kids that got Ds and Fs in high school? They're alive and well and transferring money to criminals Sheesh, the internet has been around for about 25 years and people still getting scammed.

[@brianbara3204]

B of A is one of the worst banking institutions (along with Wells Fargo) in the country. Their "Customer Service" reps are rude and unhelpful, and the red tape involved with getting any kind of resolution to an issue is mind-boggling.

[@MrTM-fg6zn]

What the Zelle is wrong with your bank?

[@whatever5922]

Good one

[@takeriasullivan3550]

I am so happy they all received their money back!!!

[@hg1644]

Awesome work, as usual banks are useless and could not care less. So glad you helped those people out. 🙏

[@TATNThisAintThatNetwork]

Ignorance of criminal activity doesn’t protect you from the criminals no more than ignorance of the law protects you from the law. Question: What now is preventing “customers” from “scamming” themselves or at minimum splitting the booties with the scammers?Think & Vibrate ❤️

[@stephanienguyen6992]

Be careful - most scam text or call you. Do not click the link or apply YES

[@spikefojas6397]

This really makes me mad scammers will ask for this for data recovery

[@civhonbmm3]

Zelle is safe to me Never sent to people you don’t know or offer only because you have to make sure we are sending two is the person you’re trying to deliver to. This situation somehow some way these people have or found out Where are they Trick them into believing they are representative and asked to wire money back to your account never do that. If a bank wants to send you money back it will be no and they have other ways of doing it not via Zelle or credit to the account Because they know your information already don’t need you to authorize this case to take away

[@kellysilversmith5422]

It’s unfortunate how easy Americans can be scammed.

[@misstriciaskitchen8640]

How can they find out where the money actually went? Can’t they trace it.

[@dianemoonstone4715]

Usually to international accounts in Pakistan, or India, etc., etc..

[@jessedavidpotts4372]

As a BofA customer I am very happy I have seen this story!!!!

[@hilove5658]

Your money is insured with ANY BANK.. And when this happens. An attorney can sue IMEDIATELY.

[@jeffjones6951]

F.D.I.C., baby. Insured up to $200k per account

[@whatabouttheearth]

It's insured by the FDIC from when the bank gets robbed...not when you transfer it to someone else who hustles you into using a third party app. This means they did several things, matched the last numbers of their account, knew their phone number, made their number to say "Bank of America", and then got the people to download a third party app and than transfer the money...the bank did nothing because the money was never really gone, that was a lie, it was only gone after they transferred it.

[@DarthRaver-og7qq]

Awww look at BofA trying to buy some of their souls back. JUST WONDERFUL!

[@nickv4073]

They're not trying to be nobel here. This is called damage control for the bad press they have been getting. Nothing more.

[@chrism8180]

@@nickv4073 that's what he's saying, just used colorful wording

[@foreverendeavors6210]

Bofa ultimately got scammed, ultimately it was not the banks fault.

[@whatabouttheearth]

True but BofA is part owner of Zelle along with 8 other banks, so their app was used somehow to do the scamming. Which makes this more interesting than when I first watched it. They knew who they banked with, had the last numbers of their accounts, their full names, their phone numbers, that's what they knew before they initiated the scam... and for some reason they were all middle aged women, plus it used Zelle, an app owned by the banks themselves.

[@ketodiet5766]

So many scams out there. Only the foolish get played like this.

[@luxeandloaded4179]

Thanks for helping them

[@jeronnamoe]

I barely missed this. I got a call it was from BoA fraud dept but the 1st part of the call was prerecorded so i hung up. i checked my acct and everything was good. so i just left it alone. I think I dodged a bullet. edit: to the ppl saying "how could they fall for this" you're in panic mode when this happens. All you wanna do is safeguard your money and when someone who claims to be from your bank is telling that thieves have access to your money you may panic. And look who they are praying on...hardworking women. these ppl know what they are doing. it's sad.

[@TheU2now]

Why don't the government go after these criminals !!

[@sushibar777]

Don't use Zelle, and don't use your cellphone to run your life more generally. It is too risky. The victims "should" have known better than to do this, but a good scam artist knows how to play on people's psychological weaknesses.

[@stillyoungish]

Bank of America so bad…they need to be closed down

[@oKyeahThen]

These people sure are gullible

[@mbtax7389]

Great journalism ,, keep it up plz

[@mbtax7389]

Plz 🙏

[@cassandrafrantz8307]

Ya they will never ask you to transfer money. They will first ask if you made those purchases then if you say no they will cancel your debit card immediately refund you and send you new card. Whats they did for me when someone from China was trying to buy things with my card.

[@genarivera7996]

We got an similar app here in Puerto Rico and this has happened more times than I could count to a lottttt a users

[@drethechef]

The crazy thing is this same exact scam for the same exact amount happened to me in July. I got my money randomly one day in my account 2 months later but BOA knows what is going on and doesn’t care. I took all my money and put it in Navy Federal and couldn’t be happier

[@AvergaeTrollllll]

So people fall for scams and demand to be paid back? Okay….

[@kimberlyjones6476]

The font of that text alone should have told her it was a scam. 🤦🏾‍♀️🤷🏾‍♀️

[@rim4038]

So someone called you to pay them 3300 to get some money back? Damm this is more phishy than someone doubling your money on runescape lmao

[@royaldiadem_]

Makes no sense Zelle is a collaboration of ALL the major US banks who created and designed Zelle for unique transfer services between the banks included in the agreement. So if BA was scammed then it was BA who was involved in the scam.

[@jamesdalton7191]

Why dont they ever mention there is a trail to the account it transfers to.

[@AM-nh6oz]

Bank of America needs to refund everyone account.

[@tryingagain5123]

I'm confused. Why would anyone send money to an email..even if it's your own. Did I hear that correctly?

[@cristychavez-ariza7880]

Wells Fargo denied my claim also. What else can I do?

[@elizabethcross8372]

So what bank account is the money being deposited into?

[@godsoldier6111]

In this day and age how can people still be so gullible and get swindled so easily...???

[@tamvietusfamily7257]

I usually used to send to the phone number very easy and faster but something happening with many people so carefully before you transfer money with a big number! Good luck

[@doubletrouble7827]

If this never reached the news no one wouldn't get their money

[@MattHalpain]

Thank you for this video. I use Zelle. I will not fall for this scam now that I have seen how it works.

[@MrRar66]

This is along the lines of someone asking you to write a check to the scammer and then expecting BofA to replace the cash.

[@queentinadoire6931]

How can people even follow through with these scams. I had someone called me one day saying I had problems with my bank account. I told the person that I would personally go to the bank and resolve this issue as I do not discuss my finances with strangers. I then hung up.

[@newmexicoballer3867]

Unfortunately there will always be people that fall for scams that the rational person won't.

[@rigotub]

Instead of teaching CRT, school should start teaching common sense.

[@murraymadness4674]

They use LCDs now instead of CRTs, you are been? Watching Faux News probably

[@sasha2401]

It really surprises me that people are still falling for these kinds of scams. I could understand our elderly who aren't tech savvy and really don't know any better. But for some of these younger folks who are likely inundated with tech day in/out, it's just so surprising to me.

[@MuzicTunes-lk6np]

I strongly believe that once you have a third party involved in your bank account, that just opens the door to scammers. 😈 💻

[@allistorreed2271]

“It seemed so real” But that is not how banks’ fraud department work. And the amount is suspiciously specific.

[@wentzr]

My mother in law was just scammed in larkspur, ca to wire the entire contents of her savings acct to a scammer who had her convinced that her bofa acct had been compromised. Similar scam but not using zelle. Shes been on with bofa this am who is telling her the money is gone, nothing they can do… how do we get this back and most importantly bring the criminals behind this and so many similar scams to justice?!?

[@godsfavor6939]

I was scammed by someone posing from my bank too!!! I was devastated!

[@peterng25]

Using an app to pay is like putting a tube into your bank account and then hose everything with whatever you have

[@theo9976]

So many scams today. And so sophisticated. I’ve actually hung up on legitimate calls from my bank thinking it was a scam. LOL.

[@murraymadness4674]

Me too, I don't take most calls anymore, it is SMUD calling to let me know I haven't paid my bill for months and they send hardcopy mail to wrong address..

[@SYDAirlineEnthusiast]

They got lucky that the bank was willing to refund those people. This scam seems to obvious. There are some people who fell for more difficult scams whom the bank should rightfully refund.