Zelle fraud cases explode, consumers lose millions

[@calidreams5379]

Zelle is only allowed for people with USA bank account. The banks should know exactly where the money went and to who. If the accounts are fake, then that’s also the bank’s faults for not verifying identity of the account holder. Unbelievable!

[@damham5689]

The banks probably get a cut of whats stolen. So why would they fix it.

[@kasession]

I thought the same thing. I hear about some of the scams, and I don't understand how the banks can't reverse the transactions if fraud is proven.

[@memoobaba]

Not if they use stolen bank accounts

[@starwing0]

Identify fraud

[@johni1622]

Wells Fargo is not okay. When will people learn.

[@tetchuma]

If the banks provide the service, they are liable. NO MORE BAILOUTS FOR BANKS UNTIL EXECUTIVES GET LONG PRISON SENTENCES!!!!!!

[@toytulog576]

Zelle can only transfer money if they authorized it. To transfer money using Zelle, you have to login on your bank and send money transfer choosing Zelle that is tied to your Cellphone #.. Then you send amount of it. This guy certainly got hack through remote desktop method :) maybe he does not have 2FA method enabled on his bank account. Cuz my bank, everytime I login i get a 2FA code to verify it.. So yah its this guy fault not Zelle.

[@SteviePaints]

I’m not sure about that. I would have to read the agreement.

[@jamescollier3]

@@SteviePaints if you are stupid enough to pay the wrong person like that lady, that's her fault. the guy with 9k sounds like someone setup zelle in his name on his account. two different things

[@1JackStClair]

If you are tricked into sending someone you don't know (or who pretends to be your bank, the IRS, or Amazon Support) money thru Zelle how is that the banks fault you were stupid? Like, if you go to an ATM and withdraw cash, then on the way to your car, a homeless person asks for money and you give them a $20. Then you see that homeless person drive off in a new Mercedes or BMW? Is that the banks fault too? You buy a new TV and put it in your garage NIB, and leave your garage door open. The TV disappears. Bank's fault? If you make the banks responsible for everyone's stupidity or naivete then we'll all end up paying more and the stupid ppl will keep on being stupid and careless. They'll only learn by being held responsible for their own actions.

[@tynao2029]

no, no more bailouts for banks ever. No more government at all

[@dgriffin6074]

I would never have an account with a big money center bank like Chase, and given their history of shenanigans, I don't know why Wells Fargo has a even a single customer left.

[@schnellfahren911]

Yeah, having nation wide locations doesn't seem worth the BS. Shame on anyone silly enough to think they have your back just because of the sheer size- quite the opposite in my experience, as shown here.

[@lotto5742]

Just don't use Zelle.

[@davidwright873]

IKR????

[@conniesaratoga3194]

@@lotto5742 At 45 seconds in, reported stated it could be connected to your account, and thus used to steal your money, even if you never asked for it to be connected or ever used it. So....we could be vulnerable without even knowing it.

[@ViraL_FootprinT.ex.e]

Not even sure how Wells Fargo is even still in business after all of their shady bs.

[@parisattic]

"We don't refund on Zelle" - My reaction: "So you aid and abet them". That's a criminal act.

[@bjvu9460]

people dont realize you can sue a bank in small claims court and you could also get arbitration which I dont trust because the banks suggest going that route knowing that thieving judges who is on their backdoor payroll is the ones who would be ruling on the case... if 3000 people sued them in small claims court they would be happy to issue a refund due to court cost and lawyer fees

[@parisattic]

@@bjvu9460 People don't realize that you can sue anyone - including the U.S. government, now. You need to be able to document damages.

[@CHMichael]

Actually they did refund someone that sent me money by accident. ( 250.-) - I don't remember if I had to agree.

[@parisattic]

@@CHMichael AWESOME! Did you notify them or visa versa?

[@CHMichael]

@@parisattic she called me and told me that she sent me money but already requested to have it returned. I think it sat in my account as pending for 12 or 24 hours. I don't remember if I had to agree to anything in the app.

[@ALTN8NRG]

Time to ditch the payment apps.

[@Yay863]

@@jeaniebird999 My credit union charges $14.95 if I want to transfer an immediate $100 to my kid, so I will use free Zelle. I'm careful to ensure email addresses and cellphone numbers are correct.

[@jet4415]

@@jeaniebird999 How are credit unions worse?

[@abrahamgarza537]

I have a credit union

[@Shade_Tree_Mechanic]

​@@jet4415 They're actually much better than the big banks. Especially once you've been a member for a while. Loans are much more personal and the employees generally care much more about you as a person. Not a number like big banks

[@jeaniebird999]

@@waltc614 I've been with First National for almost 4 decades, including my mortgage. It's free to bank with them, too. They've always treated me well and I've never had to worry about them being sketchy, like Wells Fargo, or Key Bank.

[@Erica-en2qz]

That lady is right, because it is on the bank's websites, we assume that the bank endorses Zelle. The bank's should take responsibility or stop their relationship with Zelle. People should start suing and then maybe this will stop.

[@ricardcluter4765]

I always use a credit card to pay debts, if it's allowed. Then, at the end of the month, I pay-off the credit card, plus I get cash-back. There are so many MORE consumer protections using a credit card vs. cash transfers, debit cards, etc.

[@jickjackyou]

First crypto, then cash, then debit, then credit.

[@KatarinaS.]

Unfortunately it can't be used for everything, such as paying an individual who lives in another state, only businesses can take credit cards. Unless you know of something I don't, sending a check or using something like Zelle are the only options.

[@imnitguy]

Most of the time, for large purchases (I used to operate 4 Airbnbs with monthly rental amounts) the buyer is on the hook for 3% of the total. So much for that cash back thing.... There is a $90 surcharge for accepting a credit card on a $3000 total. Somebody's got to pay it...

[@ricardcluter4765]

@@imnitguyBut it still works for me because I never use AirBNB and, given the current trend, a lot fewer people are, as well.

[@RichardWareham]

That does provide some measure of protection.

[@bellagirlgirl8827]

customers of banks that offer Zelle should be able to opt out of it / turn it off

[@moa8121]

Do you mean lock the Zelle app so no one can get into your account to transfer money to another account? I have a TD checking account should I stop using the Zelle app?

[@bellagirlgirl8827]

@@moa8121 My bank offers Zelle to its customers. It is a convenient way to transfer money from your account to someone else's account. However, if the banks that offer Zelle can't figure out how to make it 100% safe and foolproof, then they should at least allow their customers to put a "lock" on it, so that scam artists can't get into the account and use the Zelle feature to transfer money out of your account into their account. Currently, if your bank is one of the 6 shown in the video that offers Zelle, there's no way you can "lock" it to prevent possible fraud / theft from your account. So don't allow someone to talk you into using it, and be sure you have a strong password into online access to your bank account. I've seen videos about criminals that call you on your phone, pretending to be a real business. They ask you to pay your bill using Zelle (which is the trap), and they give the victim a fraudalant account to send the "bill payment" to.

[@ehanneken]

Customers have to opt in to use Zelle. In the banks’ terminology, they have to “enroll.”

[@richb7524]

But hackers make that call when they get into your acct

[@Gitn2it]

All you need is a phone number to transfer money using Zelle. I loaned money to an acquaintance who was down on her luck using Zelle, and the next thing I know, she started sending requests to my Zelle account for more money. I got an email from my bank with her request. I didn't even know people could do that.

[@arioch2112]

The fact the banks responsible for Zelle aren't doing anything is infuriating on so many levels.

[@mulan7015]

Criminals getting smarter and people are gullible the bank cannot catch up so ??

[@gusfusses44]

Why would anyone else be responsible for people giving away their money. Should the bank be responsible for someone who loses money gambling? If someone is hacked it should be treated the same as if your card was stolen. If you give someone your money because you sent it to someone you didn't know well that's on you.

[@arioch2112]

@@gusfusses44 Wow, theft by 3rd party is a far cry from gambling. Very hard to compare those two.

[@gusfusses44]

@@arioch2112 You have to send them the money. The responsibility lies with you. When did we get away from taking responsibility for your on actions. Don't send money to people you don't know. It's that simple or else you are taking the risk of losing it. No different than gambling.

[@arioch2112]

@@gusfusses44 Not what was being reported. Some cases, ppl had never used Zelle but was part of their bank, like BofA. I've never used it but it is part of my bank account.

[@danng0756]

An excellent example of news platforms being used for great social impact. Great on Shannon and this news station

[@paulnubreu6887]

Most often they are used to cause great harm.

[@debdon5813]

Zelle should be held accountable since this has been an on going issue for years.

[@Daphattack]

Exactly. The fact that Zelle, cashapp, venmo, paypal ALL OF THEM are not held liable is ridiculous. They know who got the account more than a bank would. Because all a bank has is a username and Zelle says its a privacy issue.

[@windsofmarchjourneyperrytr2823]

Not if you DON'T USE THEIR APP. It would stop IMMEDIATELY. Ha

[@darwinLee81283]

Why are people using Zelle to send money to someone they don't know. There are so many other ways to send money. Imagine if Banks paid back EFT transactions. I could Easily Scam a Seller of Goods People make SO many Fraudulent CC and Debit Card Claims every day and the banks eat them because of how the law is Written. . Don't use a Freaking cash app with a Stranger. That's like asking the Bank to give me money back in a Cash Transaction. How is the bank liable

[@jickjackyou]

The problem isn't Zelle here. It's the users who did the stupid thing. They're the ones who sent money to people they didn't know or installed malicious software on their own devices. I wouldn't install Zelle just like I wouldn't install the Mc Donalds app on my phone. Installing random software like this without doing basic research into the apps you are installing is how you end up losing money like these people did. The rest of us should not be burdened with higher costs and fees because of it.

[@jickjackyou]

@@windsofmarchjourneyperrytr2823 This! People are stupid and the regulations are what hurt us all. They need to stop regulating financial institutions and let some real competition come about. I don't trust the banks, but it's because of government meddling that they are all the same. I'd rather be my own bank, but the government is doing everything to make that a crime. I prefer and use cryptocurrencies and have NEVER lost money (outside the ups and downs, but its up more than down so certainly loss is a misleading word to use here, and this is without being an "investor", or in other words I accept crypto and I spend it, I don't buy it to make a buck, but that is a side-benefit of having held and used crypto for a decade).

[@DeWittPotts]

I had someone try this on me. A person called my cell phone pretending to be a 'fraud investigator' for the bank. They even 'spoofed' the phone number so it matched the banks '800' number. I hung up and tried to call the customer service number for my bank. This was at 7:00 EST. At this time the banks 'customer service' is routed overseas. I was on hold for over 45 minutes before I just hung up. I went into my local branch the next day to report what had happened and tell them that they basically had no customer service support after business hours.

[@OldSaltyBear]

I had the same happen to me. Normally when I call my bank, they ask me to verify the last 4 digits of my account and my date of birth or a pin. This guy told me the last 4 digits of my card number and asked me to verify the rest. So I asked him for his employee number and extension and then told him I would call him right back. He hung up on me. Only after did I realize he gave me the last four digits of a card that had been cancelled due to fraudulent charges.

[@ThisNoName]

Sometime, those fraud departments are actually real, and calling with some really suspicious thick foreign accent. Although in my case, I just made some large change on my account, so I kind of had some clue, but still followed up with the "real" bank and confirmed they indeed had such procedure.

[@terywetherlow7970]

Everytime I am routed overseas I get nervous about fraud. Milk Street Magazine uses O.S. customer svcs. Liability is gone when offshore.

[@oquendo0021]

I just don’t pick up and I’m constantly checking my accounts like three or four times a day

[@evelynwaugh4053]

Never respond to someone calling or texting you unsolicited. Call back on the number you have for them (it's on your card, unless you have a preferred customer line, then use that). Keep the actual phone numbers handy in your phone for added convenience if you are away from home.

[@debbie6533]

I told my landlady No Zelle...You are not protected and the bank is not going to budge. Protect your money.

[@1fastmex]

Banks need to be held accountable. Sickening

[@davenone7312]

Stupid people falling for scams should be held accountable. Sickening

[@subforceusa694]

I lost $1100 on an apartment through Zelle tried to get police involved and they said this stuff happens all the time. So I was homeless that month. We waited to move in and no one showed. I had spoken with people I knew who rented there. Everything seemed legit. Come to find out he was multiple states away. After waiting with all my belongings and family to move in for two hours. I was beyond ticked off. I wasn’t raised to steal belongings of others. There’s a special place in hell for such scammers.

[@subforceusa694]

@MdMister-le7bb stay far away from him he’s after peoples money thanks for letting me know that

[@bunk95]

Tried to get/got slaves marked police to do what? Are/were you a slave who was/is faking government, religion and/or industry and/or a slave tortured into appearing/etc. like you could possibly be?

[@isocarboxazid]

@@subforceusa694Really sorry that happened to you, hope you're in a much better spot now.

[@randyearles1634]

if you can"t meet the in person don't do business with them! simple and effective. If you do meet them in person away from their office, take a picture of them. If they don't like it Don't do business with them..

[@DwightStJohn-w1l]

@@randyearles1634 in a perfect world, yes. but today with generational wealth spread all over the planet, you are not like old town Iowa where your gene pool has been based for 160 years. Then again, STEALING used to be one of the extremely serious taboos, whether in the USA or Saudi Arabia. USA? It USED to be just below murder and kidnapping. Today is exhalted as a means of "getting even with white boy", whose relatives were in Sweden 100 years ago! Some cultures work at stealing, other if you leave it unguarded , it's fair game, ANY property, including your WIFE. Let that sink in.

[@ViraL_FootprinT.ex.e]

If big banks (or any banks) use this, shouldn't any fraudulent transfers be covered under FDIC?

[@SA-Bean-Bean]

Are you kidding me? $9000 let it go? My account will never even have that much in it- no way I'd even consider "letting it go" 😂😂

[@이주영-h5j9n]

🙄 how do you live?

[@SA-Bean-Bean]

@@이주영-h5j9n i barely do. Its an every day struggle to decide between food and diapers. Have any extra you wanna donate? Or have a high salary job you want to offer?

[@gzstayreal]

@@SA-Bean-Bean shouldnt have made a baby then

[@kanohane]

​@@gzstayreal I don't have kids and struggle as well...

[@gzstayreal]

@@kanohane welcome to reality

[@lydias2012]

Thank you local news investigative reporting. You guys are doing a great job.

[@lorieparker5767]

same thing happened to me with chime but luckily they gave my entire money back but took 7 days. the people you owe bills to also care less why you don't have their money. it sucks and the world continues to move towards digital only to erase the need for paper. when everything was entirely on paper seems that this can be entirely unavoidable yet still we continue towards online and digital only.

[@transportationOkbutisit]

Remember stolen checks? Lost payments in the mail? “Washing” checks and rewriting amounts? Instead of moving backwards, we should educate those who don’t understand new technology and provide safety for those folks who make mistakes.

[@citizencoy4393]

How can the government track ur money if it’s not online? Need to make sure u r paying every single penny of taxes that u owe! Also need to be able to erase ppl when they get in the gov way

[@coreygarrett9545]

They caught Al Capone for taxes long before digital lol, if you don’t pay taxes you got problems bigger than paper vs digital

[@williebeamish5879]

@@citizencoy4393 Yeah, "enemy of the state" is actually a real thing, ask any targeted person. Becoming widespread with the use of all the new techno surveillance and minimal usage rules in place. People so unaware still, until it affects them.

[@windsofmarchjourneyperrytr2823]

It's not "unavoidable." Apparently the PO has no idea wtf your mail is or WHO is stealing it!

[@Oheeeoh]

The reason we have so many scammers is it seems like the banks never go after the scammers.

[@lawrencebashlor8811]

No because un educated consumers that are constantly babied are funding criminals.

[@smith7388]

Agree

[@id10t98]

If Chase has anything to do with it you know there is a crime involved.

[@om-nj2hw]

Shame on these banks! I'm considering using a bank that doesn't use Zell, scary they can get away with this. I don't use Zell, but since they hack you..

[@parisattic]

Try credit unions. SDCCU doesn't know what Zelle is.

[@user-lx1dy3iw1z]

Simply don't register with Zelle

[@parisattic]

@@user-lx1dy3iw1z When your bank signs up, you're in. No opt-out option. If you don't pay attention to your bank notification disclosures, you won't know that your bank has signed up and that you are already in the system. If you want that to change, send a complaint to the CFPB (Consumer Finance Protection Board). Sometimes they take action. They are more of a board to send complaints to. Lack of enforcement is to be expected.

[@conniesaratoga3194]

@@user-lx1dy3iw1z Reported stated at :45 that some banks automatically connect it to everyone's account without you having requested it.

[@LoveClassicMusic0205]

@@conniesaratoga3194 That report is wrong. You have to actively sign up for it. I refuse to do so.

[@adriannavarro2536]

How cute, the banks we bailed out all those years ago still can’t find it in them to do right by the consumer.

[@garryventura]

I’ll be filing a a police report! Zelle has stolen my $1300.00 which is a felony!!

[@newmexicoballer3867]

How did it happen?

[@JK-br1mu]

Gary, Indiana, Gary Indiana, Not Louisiana, Paris, France, New York or Rome, but Gary Indiana, Gary Indiana, My home sweet home.

[@alexarzamendi9475]

Lol, thanks for the money sucker! 😂😂😂

[@gdn7]

@@JK-br1mu hoosier

[@savaunx96]

Stop lying you spent it at the GL0RYHOLE

[@waysandmeans3984]

Zelle is automatically added to your checking account. You don’t have a choice. Therefore, the bank should be responsible.

[@jickjackyou]

That isn't how these frauds work though. It's gullible people doing stupid sh*t like sending money to people they don't know after being called or email'd that are lying about who they are or getting 'hacked' because they can't control themselves and install malware. Don't install Zelle and there isn't a problem. Don't install malicious software or send money to people who call/email you that claim to be people they aren't and there isn't a problem. I wouldn't ever install Zelle. It's a malicious app in and of itself because there is no source code available and you the user are not in control. You are giving up control of your device and being stupid by installing these sorts of applications. Stop installing malware people or you will continue to get what you effectively deserve (be victimized). Install of blaming other people for your problems take some time to learn about basic security and the scams that occur in the world. One doesn't need to do much more than watch the news and be a bit weary about which apps they're installing.

[@battles146]

not true - the bank may offer the service but it's not active unless you sign up for it and activate it - check with your bank - credit unions are not safe from these types of frauds either, check with them re their fraud protection policies -

[@-myal-8691]

You do have a choice. Contact your bank and have the Zelle app locked down so no one can access it.

[@tamarajohnson5771]

You have a choice. Have both credit union and major bank. Refused Zelle and any other bank transfer app.

[@kpdvw]

What checking account @ what bank?

[@jimjimgl3]

Title should be something like "Scammers fool bank customers into sharing Zelle info..."

[@DougBert_Talks]

I really don't understand how people get scammed with Zelle. I use Zelle and only send $ to family or something I know 100%. Also, you can set limits on the max transaction amount, ie. mine is set to $1500. I control who I send money to using Zelle, no one else.

[@jimjimgl3]

​@@DougBert_Talks Agree. I think the issue in this situation is more about educating consumers to be more wary of scams than to come down hard on banks--not that banks really care deeply about their customers. Of course hacking into an account is a complete and separate issue.

[@davenone7312]

Title should be Stupid people fall for scams and want everyone else to pay them back!

[@kbob9625]

This is it. They got social engineered and scammed. It's not on zelle to protect people from themselves.

[@cromeromail]

Great story Shannon! Thank you for looking out for us consumers!

[@thesun6211]

It's not really a gray area; most of these thefts sound like plain Wire or Bank Fraud

[@lettienugent]

Way to go Shannon. Great report & great investigation!

[@fadaela]

Zelle has a warning on the screen with precautions to take before sending money smh i guess those millions lost came from people with no common sense.

[@Anne.411]

Now they gonna shut down Zelle soon because the banks wont keep footing the bill

[@Deathtofrogleghorn]

I could see in the case of the woman that got scammed by that utility company why the bank didn’t refund her money. For one, I don’t know ANY utility company that uses Zelle. They take cash, credit/debit card payments, check, money order, and Western Union payments. She was the one that authorized the payments. Once you authorize a payment and even if it’s going to a scammer, all protections granted to you are off. If it was a hacking situation, then they will work with you to get your money back because you didn’t authorize it.

[@MakeItWithCalvin]

Thank you. Is it sad she lost the money, yes? But she willingly sent the money, it was not as if the bank was compromised and the money drained by a 3rd party without her consent. If in doubt, verify before you pay!

[@kkraut]

All so some can buy their gucci and pay their Mercedes lease all the while claiming that they’re self made

[@tristanmichael7596]

What?

[@sweetcapricorn]

@@tristanmichael7596 their saying scammers are the one flossing

[@dragonflydreamer7658]

This is your future learn to love it... THREADS

[@TheFrenchPug]

The Zelle app is through the bank on their app!

[@kk33613]

This is why I do my banking with a small local bank as opposed to the large national and international banks, and I never use the transfer apps. Small local banks are not a target of scammers, it's not worth their time.

[@garyaugustus690]

I notice that good old Western Union is still doing money business.. If so, people are using these apps because they seem, like most everything else online, as a toy... or they're just too lazy to go to a WU counter and conduct business face-to-face, where there will be some semblance of accountability.

[@kk33613]

@@garyaugustus690 So true. Western Union is still going strong. I think the use of the money transfer apps is more about convenience than laziness or the novelty of them and I can understand that. Being disabled and pretty much home bound I appreciate the convenience of ordering meals or necessities and having them delivered to my front door within a reasonable time frame. Growing up watching "The Jetsons" made me aware of the future power of technology. Go in peace.

[@LindseyWood-x4k]

Lol u Eva herd of an offy?….iykyk 😂

[@vanessadailylewis2513]

This just happened to me. The day I went to the bank and 2 other people in my Wells Fargo bank had been hacked through Zelle

[@burmy1552]

Dump Wells Fargo. It's well known that WF is a criminal organization.

[@jet4415]

That is so awful. I makes me distrust the financial system especially when they won’t refund the money.

[@elaineclguerrero5592]

Terrible - so sorry.

[@dyblifestyle]

How was it done?

[@vanessadailylewis2513]

@@dyblifestyle there was 3 deposits put in my account not even to me then taken out and a zelle for $350 sent from my account which I got no notice on my phone about

[@lindsay3995]

Yeah, I signed up for a checking account at a major bank and they’re telling me the only way to transfer money is Zelle. Told them I’ll need to think long and hard about whether I’ll actually use that account at all. Your business relies on a third party to do a basic function of…ya know…banking? Really?

[@kbob9625]

There's zero chance that's the only way you can transfer money. Also the creation of an instant and real time payment solution took a ton to develop. It's not as simple as just making an app that transfers money. There's souch back end with bank connectivity that it's a massive investment. Plus each bank would develop their own and then getting them to talk to each other would be a nightmare. Some banks might connect to each other but some might now and real time clearance would still be an issue. I work for the largest banking software developer in the world and I think it's safe to say you dont really understand what you are talking about.

[@BMe-ck6fd]

Why not charge 25 cents for all Zelle transfers and thereby create an insurance fund

[@bgregg55]

Why should I have to pay because their payment system is not secure?

[@P10634]

An insurance fund for stupid people? You have to authorize Zelle to send money to someone and verify it’s you through a cell phone.

[@denizxv1]

Never before have I seen an individual so dedicated hard-working and yet still tenacious at the same time

[@howard6433]

I don't see how the banks should cover losses on Zelle unless it was the result of a data breach or hack. If someone falls for a scam and sends money, that person is responsible. Makes no difference if he pays by cash, check, or Zelle. If the person took no action, but was hacked, then they should be made whole.

[@Once_in_a_Lifetime]

They are hacked because the banks share your phone number and email with venders they do business with (like life insurance companies). That information is then sold to others. Your account is able to be hacked because scammers now know what phone sim (your Sim) they need to put on their phone and get control of your email for that bank account. In most cases this is all they need to change your bank passwords. This all leads back to your bank accounts being taken. Its not all about people being tricked into giving people your info. Have a separate email that is not used for any other business except your bank so it cannot be found else where. Make sure you withdraw all permission for the bank to share your information to anyone except for business use with that bank.

[@JohnSmith-nk4vn]

All of this seems to be due to gullible people, not Zelle.

[@royalvisionm.e.t.v.323]

It department of bank along with the developers and don't forget the lawyers who did the contract to set the world up for failure.

[@BeeeHonest]

Great job and great segment, Shannon and your team! Keep up your great work.

[@ludak2468]

Someone took $4,000 out of my account, and chase never returned it. They said zelle is 3rd party and they can't do nothing about it. And it wasn't even me zelling

[@vanessadailylewis2513]

Exactly

[@swaggys6759]

Holy s..t, u have a case. I wouldn't quit till I got my $ back.

[@BeatlesTranscriber]

This is what happens when you have money in your checking account. Make it a habit of keeping minimal cash in checking.

[@celesterosales8976]

Thanks to the news person!! This is how news used to be. It took her six months to get to the bottom when this should be the bank’s job. Tell us about Venmo and other apps please.

[@themuse11]

How are people letting scammers trick them into giving them their BANKING login details???

[@chithraprakash8392]

Wonderful reporter! Thank you for helping him

[@bhatkrishnakishor]

Use a separate account for expenses, never have money more than you are willing to loose. Treat it like wallet!

[@TheVuduYuDu]

Great story. Please continue to keep us informed.

[@floxy20]

People should know by now not to use apps or a cell phone for banking business.

[@feedingit]

Wow! I assumed if the bank endorses/allows a third party service, it was covered like credit card fraud. Thank you for this information.

[@windsofmarchjourneyperrytr2823]

I'll bet $$ they're 1000% in on it. Makes sense, right?

[@oliviahancook5195]

I also thought that it was the same safeguard s as using a credit card. But luckily I don't feel comfortable using zelle to pay business

[@rosemarietolentino3218]

Chase it figured! You need to check your statements every month to make sure Chase didn’t pull something funny themselves.

[@telcobilly]

I hate Chase, BofA and WF along with the other big banks. I have had good luck with Ally, totally online. They offer Zelle too and so far, no issues. This has me concerned though... Any suggestions for another transfer method?

[@grouperkng1]

​@@telcobilly BoA,WF, truist, chase allllll of em

[@OldSaltyBear]

Same with Bank of America and Wells Fargo. I currently have a PNC account and they have been very responsive to the few issues I've had.

[@milliegirl7514]

And they do a lot of creative accounting for you to end up paying late fees

[@ytucharliesierra]

@@telcobilly The problem with this report is that they only marginally mention how the frauds work. They don't say what to look out for. I have never needed to use Zelle so since you have used it before you will probably know more than me about it. As far as I can deduct from the other comments here I think it is a matter of not falling for phishing mails and scam calls and not logging in via secondary links. My bank actually issues a comprehensive scam warning when I open the Zelle money transfer option. If you have not encountered issues so far, it seems like you have done everything right at the safety level, which is crucial. In addition it certainly is another good measure to check the account online on a regular basis, like at least once a week. Like somebody commented above already, some people are, let's say, not mindful enough with their banking stuff, which makes them vulnerable for scamming and theft. I believe that most of these scams are avoidable if you just pay enough attention. I am guessing that Zelle should be safe enough, provided the bank customers pay attention to what they do, hence why try to switch to a different payment method? I think this report is far from comprehensive as far as precautions are concerned, so If you are concerned, research about banking fraud is in place.

[@cajunfire6290]

I Love messing with scammers acting as tho I'm going to send them the money they are trying to steal lol

[@lawrencebashlor8811]

They get so mad. Like where is MY money. Like bro I have time to waste to mess with you

[@cyndiebirkner704]

It's awesome that there's someone trying to help folks, great story and great job standing up for consumers.

[@MercedesAshleyOnline]

The bank should be responsible if it’s on their back panels.

[@johns6176]

A lot times people don’t take security serious enough. Everyone should have 2FA on their checking account and Zelle limits in addition to using a unique email associated only with you bank account, use a separate email for everything else.

[@feurigerStern]

I use an encrypted email for my bank account

[@margaretmukasa2998]

What is 2FA??

[@kenlewis2253]

Chase doesn’t allow 2FA (not SMS, Authenticator, yubikey, etc). But you can set that a login can only happen from a specific IP address, such as your home or a designated VPN.

[@thelostone777]

2 fa is essentially worthless, not hard for a scammer to bypass the 2factor

[@jickjackyou]

The real answer is bitcoin/crypto and people being there own bank, but that would require people to think for themselves. Banks are evil, but it's why they and the government lie about crypto.

[@crystalmarroquin777]

My 80 yr old mom who lives off her Social Security was robbed $500 by Zelle through Bank of America in 2020. BOA never paid her back. I wish I knew then what I know now. She switched banks immediately

[@jayteepodcast]

Dont pay companies with Zelle its that simple

[@MuzicTunes-lk6np]

When you have a third party dealing with your money, that just opens the door for scammers.

[@Suds649]

One more reason why digital currency is a bad idea.

[@LeeHawkinsPhoto]

Banks don’t care about fraud, they care about convenience and the fees they collect.

[@TruthBTold-op9kv]

And they want us to be cashless. What a joke 🤣You have to go through hoops to speak to customer service. It's horrible.

[@charlesdavis7461]

Thank you so much for what you did WFLA.

[@MichaelJLink]

I keep minimal funds in my account that has Zelle activated on it. I transfer everything else to another account and place a withdrawal lock on all transactions.

[@ncmathsadist]

Zelle is a security hole. Period.

[@Ken15643]

Never trust Banks, Mortgage Companies, or Insurance Companies. They have only one goal in mind and it is not customer service. I don't care how much you love your institution, do not trust them any more than you have to.

[@windsofmarchjourneyperrytr2823]

Switch your insurance every 6 months. Make it clear you'll leave for ridiculous increases, when nobody has to be at any office=no overhead. They'll lie about this, too. Keep calling them on it. "The state," is horseshite.

[@marquezbrown70]

Chase sucks as a bank, this article makes that point crystal clear.

[@vc5385]

Chase Bank, also owes you interest, and a penalty for aggrivation.

[@randyearles1634]

any text or email needs to be checked out 1st! look up the local number yourself and verify! responding 1st will lead to being scammed.

[@sliedogg]

I had to call them to deactivate my account. You have to give them card information for that. I had to change my bank card cause I didn't trust that.

[@dominiquecruz7503]

Those usually connected to people's bank. When I go into my Wells Fargo zelle has on the information because it's part of the app. If you download the app and use it like that then yes you have to have card information if your bank isn't connected. I've never had any issues with zelle with cash app and Google Play nothing because I don't send money to anybody I don't know because I know not to. Common Sense your energy company isn't going to call you and tell you to pay your bill that you didn't even know you had through zelle. A lot of people gets can because they aren't too bright

[@sliedogg]

@@dominiquecruz7503 Wells Fargo is the absolute worst bank to use.

[@dberk023]

I use Zelle, I asked them a question and they never even answered. These financial services just ignore people.

[@wholeNwon]

What ? and how did you "ask" them?

[@kevinmach730]

The sad substory that almost should be the main story is that 1) it could be connected to your account via your bank, even if you never authorize it and 2) That one of the nations largest banks refused to refund this man's money, after his protests, after digging/inquiries by the news, and ONLY did it after the police caught the person. Likely only because they wanted to avoid a PR nightmare. Pathetic.

[@Sonofawildanimal]

BANKS NEED TO BE HELD RESPONSIBLE FOR THIS!!

[@svalbard01]

Zelle should require multifactor authentication. It's not even an option!

[@lelksldfsjwjdo]

I use two-layer authentication where my bank sends me a code and I respond back. And I never use a cash app. Never been scammed.

[@P10634]

It does

[@ShoshanaBrand]

I don't use the big banks. Nobody should.

[@billcarney829]

If the customer’s last name just happened to be Gotti, I don’t think that getting a 100% refund, if not a 300% refund, would be any problem whatsoever.

[@pimaxuma]

Avoid using Zelle. There's no customer protection.

[@whimsicalhamster88]

There are points missing here. What did the person actually do? What was the actual scam they fell for?

[@only1muppet]

The guy with the 9k that went missing was the victim of someone creating or hacking his Zelle account.

[@northernbohemianrealist]

As a Republican and proud NRA member, I say NO! We have worked HARD for years to eliminate taxes and regulations on banks.

[@joefuentes2977]

I think the banks are too busy committing fraud themselves 🤣

[@Nakameguro97]

Until security improves, treat Zelle the same as sending CASH.

[@sergiosergio12345678]

Banks have poor security, chances are your bank does does support 2 factor authentication using FIDO, instead they use your cell phone number which is not secure due to sim swapping especially if you are using a bad phone company like T-Mobile. They do not use encryption or digital signatures when communicating to you.

[@nozztradamus1]

Yes you are responsible you know everything you do on line is easily compromised

[@jeffreyb8770]

Who are the ones committing the Zelle fraud? This is an odd story.

[@jessicacole8404]

the man who attempted to scam me was arab

[@kenc2257]

Scammers, or sometimes hackers. Basically, the same folks who commit credit card fraud.

[@tjsullivan4793]

I was called one late afternoon by a criminal claiming to be an accounts manager for FPL(Florida Power and Light) quite convincingly telling me that my my monthly bank drafting on one of our accounts(two houses in same town) was mistakingly allowing our second account to go way past due and that within the hour power would be turned off at both houses if I did not log on to our bank and Zelle (FPL) 478.00. Agai this person was quite convincing but thankfully I was able to call FPL on my other phone and they quickly told me this was a lie and fraud.

[@mts7274]

Not only is it odd, it never explains how the theft occurs with the app. Just terrible reporting.

[@ladycountdown]

Inside job, fraud, naive people duped- if people steal/defraud you of cash money, the US government does not refund either

[@canisdeumnox4925]

Limit zelle amounts (per transaction > $xxx or total daily transaction .. require 2nd authorization on known device). The 7 banks just don't want the same rules on call a as they do for their traditional bank products. Sell a makes them more money.

[@viaggi3945]

Why is it banks fault if a person opens a light account with legit money and then convinces you fraudulently to send them money? You trusted that person and sent them the money. I don't get it. Naive and incompetent people who should not have a bank account to begin with and blame others for their incompetence.

[@seaborn7023]

I use WF and Chase and Truist…all of the big banks are problematic now. I used to work for WF, back before all the fraud came out and I knew something like that was coming. All they care about in the big banks is driving employees to sell, sell, sell and increase the bottom line. The pressure on lower level employees and managers can be incredible. We are truly living in the era of ‘greed is good.’ Protecting yourself with a dedicated account is one way to go, but then of course you’re paying fees unless you keep a minimum balance of thousands usually.

[@TheVuduYuDu]

Hi! excellent commentary. Thank you for saying what so many people forget.

[@jabs4554]

Wells Fargo

[@Ben_Rast]

Thank you for pulling this off so smoothly.

[@LivingLifeOutWest]

Am I the only one who doesn’t know what Zelle is? Is it like CashApp?

[@prncessbaby16]

Yeah but it's supposed to be better than cash app

[@kammorris5902]

This is crazy because I know for a fact Wells Fargo endorses Zelle. If the banks endorse Zelle, they should reimburse customers if fraud has been committed.

[@MyIOnU]

But if you got tricked by Nigerian prince, it should be on you.

[@kammorris5902]

@@MyIOnU What does that have to do with what we're discussing? Never mind... 😅

[@priscillamariegarcia2438]

I sent $100 via zelle thinking I was paying a landlord for rental application fees but turns out I was lied to, and the property was not available for rent and the man was not the landlord. Wells Fargo denied my claim and I’m at a loss of $100 which was hard as a single mom losing that much

[@gusfusses44]

So you sent money to someone without knowing who you were sending it to. How is that someone else's fault. I am I missing something? If someone is hacked that's one thing. if you willing give your money away well that's another.

[@windsofmarchjourneyperrytr2823]

Ask any real estate agent. They're 50 at the most. Not 100 I ever heard of. And if it's rented, they have to TELL you, but can't lie, either.

[@writerconsidered]

All that convenience has a cost. I haven't changed my banking ever. Cash, checks, debit card, no online banking, and only small credit unions. If I need something done I walk into the bank and do it. I don't have these problems.

[@gabrielfair724]

Zelle isn't an "app". It's a service.

[@roelsvideosandstuffs1513]

It is a service with an app. Or an app providing a service. So technically it is both.

[@gabrielfair724]

@@roelsvideosandstuffs1513 Sorry when I wrote that comment it was only available where I live as a service within various banking apps. But now they have a standalone app

[@vblic]

No lady the fact that you sent a payment to duke energy thru zelle was stupid. People should have enough sense to say wait they should have a website to make the payment. Let alone why would they request a payment through zelle. People have just as much responsibility for just clicking instead of thinking for a moment.

[@butterflysmile348]

Exactly. She should have called Duke Energy as well. Also, electric companies don't call customers. She got scammed out of $278. They don't have bill payments through Zelle only in person at their electric company or on their website. I feel for her and wish she did her due diligence before sending her money through Zelle.

[@mugstep]

This is exactly why the Patriot Act needs to be done away with. The world over allows direct bank to bank transfers for free, instantaneously. Of course, this clause in the Patriot Act was specifically written to allow third party companies to profit off of transactions similarly to credit card transactions.

[@merlin711oregon]

I'm low income was hit really hard 3 times last summer by hacking my tech devices. Bank of America finally gave me my money back and told me The only way to stop it was to not have on line banking!

[@Maelu-op9gf]

Get out of B of A. They are the worst. These days it’s probably best to have money spread out between multiply accounts sadly and keep cash on hand always. A credit union is a better option along with a big bank. Don’t trust these big banks though with your money

[@manonamission2000]

Where do the scammers originate from?

[@theconceptofmentalwellness355]

Everywhere

[@ohreally8349]

@@theconceptofmentalwellness355 yep!

[@bonushuntersentertainment]

My bets on Indian scam call centers and their mail/intimate/fraudulent text phishing operations

[@ClassyJohn]

india

[@rodneythe3rd122]

Usually Africa or India

[@davidnorth3411]

When the banking industry hold you responsible for a transaction with a system they control , watchout . I suggest never dwell within their control , meaning , never use Zelle .

[@user9b2]

Good reporting and follow up. An invaluable service to your viewers 👏👍👍