What happens in a Zelle scam?
Most of the reported Zelle scams consist of pure social engineering: manipulating people with fraudulent information and scare tactics. Scammers use false claims and representations to get people to unknowingly authorize money transfers.
A common scam involves an email or text message asking a user to confirm a large, fake Zelle payment. When the user replies that they didn't authorize the transfer, the scammer follows up with a phone call pretending to represent the bank and spoofing the financial institution's phone number. They walk the caller through bogus instructions on how to reverse the unauthorized claims that instead actually transfer money to the criminals.
Another popular scam starts with a message claiming that your bank account has been compromised and that you need to take action immediately to resolve the problem. If you respond, the fraudsters follow up with a phone call, pretending to be your bank and guiding you through the process of transferring money.