The ‘Zelle Fraud’ Scam: How it Works, How to Fight Back
Krebs on Security
NOVEMBER 19, 2021
One of the more common ways cybercriminals cash out access to bank accounts involves draining the victim’s funds via Zelle , a “peer-to-peer” (P2P) payment service used by many financial institutions that allows customers to quickly send cash to friends and family. Naturally, a great deal of phishing schemes that precede these bank account takeovers begin with a spoofed text message from the target’s bank warning about a suspicious Zelle transfer.
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