Texts made to look like your bank’s

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PHOENIX – These are the same high pressure tactics that crooks have been using for years.

They say you have to act fast and if you hesitate your money will be gone – sent to someone you don’t know – never to be seen again.

If you don’t see the red flags, you might get sucked in.

“I was immediately scared because there is $ 3,500 coming out of my account,” Lynn said. She says it all started when she read a text message.

It sounded like a fraud alert from his Wells Fargo bank. He indicated that a Zelle payment was in progress and that if she did not make the payment, answer with the word “no”.

“I put big capital letters,” NO. “But about five minutes later, I got a phone call,” Lynn said.

That’s when she says she was drawn into the history of the con artist.

“He kept saying you have to do it within 10 minutes, 10 minutes, it’s going to come out. It’s going to come out of your account,” Lynn said.

The person on the other end of the phone said she was in Wells Fargo’s fraud department and Lynn needed to make a Zelle payment in $ 500 increments to get her money back.

“I was really taken by that. And I was mesmerized into a, you know, upset, nervous, I wasn’t thinking right,” Lynn said.

Luckily for Lynn, her husband was in the room listening to the call and he didn’t fall for it; hang up before and some money was sent.

But not everyone is so lucky.

We asked Wells Fargo and Zelle about this scam and how people can spot it.

Wells Fargo says people should know that “criminals can impersonate the caller to appear as if an unexpected call or text is from your bank.” They said “to be sure – don’t answer” and contact your bank via a legitimate number like the one on the back of your debit card.

Zelle says the banks “will never call [you] request sensitive information ”and will not require customers to“ transfer funds between accounts to avoid fraud ”.

As for Lynn’s case, she called her bank and they confirmed that the text was indeed from a scammer.

If you are the victim of an internet scam, be sure to report it to the FBI and your bank.

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Wells Fargo Full Statement:

We want all consumers to use Zelle and bank securely. In addition to working with our financial institutions on safety education initiatives, we work with all types of organizations and media companies to help educate the American consumer.

In collaboration with the industry, we are actively working to raise awareness of common scams and intensify education efforts to help our clients identify scams and avoid falling victim to fraud, including through email. customers, social networks and our online security center. We never want anyone to be scammed, and it’s heartbreaking when people get ripped off on their hard earned savings.

We continually review and improve our practices and procedures to combat and help prevent customers from becoming victims of scams. It is a priority for us and for the industry in general.

Since scammers are always on the go, we want to make sure everyone is aware that criminals can spoof a Caller ID number so that it appears as if an unexpected call or text is from your bank. To be sure, don’t answer. Contact your bank using legitimate sources, such as the number on the back of your debit card.

If someone thinks they’ve been scammed, we encourage them to report the scam early and provide as much information as possible.

Below is some information we share with consumers on how to avoid becoming a victim of fraud:

· It’s important to watch out for scammers who can spoof a phone number so that Caller ID appears as if the call came from your bank. To be sure, don’t answer. Contact your bank using legitimate sources, such as the number on the back of your debit card.

· Be aware that your bank will only send you a code when prompted by an action you initiated, such as logging into an online banking, sending money, or when you call us directly. Never share your temporary access codes (for example, a one-time access code) or your PIN code with anyone who calls you unexpectedly. Your bank or the government will never ask you for this information.

· Avoid sending money or giving your account information to someone you don’t know or to a business whose legitimacy you cannot verify.

· Wells Fargo will not contact a customer and ask them to send money to themselves or someone else to prevent or stop fraud on their account.

· Do not send money to “receive a refund” or “cancel a transfer”. Remember that the bank has your account information.

· If you receive a code to authorize the transfer of a sum of money (even $ 0.01) or some other transaction that you have not initiated, do not enter the code in your banking app and do not share it. with anyone, even if they claim to be from your bank.

· If you are uncomfortable with a request received by phone or text that you did not initiate, do not answer and hang up immediately. Contact the business using legitimate sources such as a phone number on their website or the number on the back of your debit card. If a caller claims to be from Wells Fargo (even if your caller ID says it is Wells Fargo), hang up and call 1-866-867-5568 (or the number found on the Wells website Fargo or on the back of your debit card) to verify the request.

· We encourage consumers to visit the Wells Fargo Online Safety Center to learn more about common scams and how to avoid them.

Zelle’s full statement:

Automated calls: Automated calls impact multiple industries and financial services are not immune. Part of our commitment is to inform and remind consumers that their bank or credit union will never call them to request sensitive information. They would not ask customers to transfer funds between accounts to avoid fraud. Here are some resources: The American Bankers Association (ABA) recently launched the #BanksNeverAskThat anti-phishing campaign here. Zelle is teaming up with Nev Schulman, host and executive producer of MTV’s Catfish, on a consumer education program to help the public understand how to spot suspicious behavior online. The campaign includes a TikTok series that explains the trending scams and how to avoid them. Here is an example of one of them, which focus on.

Automated calls: https://www.tiktok.com/@nevschulman/video/7029776240299052334?is_copy_url=1&is_from_webapp=v1 [tiktok.com]As part of our education center, we offer resources and training on fraud and scams: https://www.zellepay.com/financial-education/pay-it-safe[z[z[z[z

  • Automated calls: Automated calls impact multiple industries and financial services are not immune. Part of our commitment is to inform and remind consumers that their bank or credit union will never call them to request sensitive information. They would not ask customers to transfer funds between accounts to avoid fraud. Here are some resources:
  • The American Bankers Association (ABA) recently launched the #BanksNeverAskThat anti-phishing campaign here.
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