Work-from-home job scams - that turn distressed job seekers into unsuspecting money mules - are nothing new. Here are the most common Zelle scams to watch out for: 1.

While some of these scam tactics might be novel, most of them follow tried-and-true patterns. Unfortunately, Zelle scammers are getting more sophisticated with new ways to fleece their victims. In this guide, we’ll share the most common types of Zelle scams and what you can do to protect yourself and your money. If you use Zelle at all, it pays to know the latest Zelle scams that could siphon away your funds. To make matters worse, banks are not repaying upwards of 90% of people who were tricked into making fraudulent payments through Zelle scams. Unfortunately, this also means it’s nearly impossible to cancel a digital payment once it’s on its way. Zelle’s immediacy hinges on connecting your bank accounts or debit cards directly to the payment service. Last year, Zelle users transferred $490 billion using the payment app - making it a prime target for scammers. But while the banks quickly refunded the credit card payments and cash withdrawals, they refused to cover the Zelle transfers, claiming they were “authorized” - even though Bruce’s phone was stolen.īruce’s story is a cautionary tale about using fast and convenient payment apps like Zelle. ĭays later, the thief had made fraudulent purchases using Bruce’s credit card, withdrawn money from his account using an ATM, and made three Zelle transfers, totaling $2,500. When Bruce Barth was hospitalized with Covid-19, he thought beating the virus would be his biggest challenge - until his phone disappeared.

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