US banks warn of recent rise in digital money fraud

BATON ROUGE, La. (BRPROUD) — Bank customers who use a digital payment network called Zelle are being warned of a recent scam.

Financial experts say some banks are reporting an increase in digital money movement fraud.

In these cases, scammers contact bank customers and request payment via Zelle or bank transfer. It is likely that these methods are used by criminals because they send funds quickly and in a way that makes it difficult to locate and recover the money.

For this reason, some banks are urging customers to keep the following precautions in mind:

  • You should never transfer money or send money using Zelle® to:
    • Anyone claiming to be from a government agency
    • Any stranger, no matter what reason they give
    • A telemarketer trying to sell you something
    • Anyone claiming your account is compromised
    • Unauthorized and unverified cryptocurrency sites or sellers
    • Anyone asking you to send you money

Click here for more information from the US Government’s Consumer Financial Protection Bureau on how to avoid becoming a victim of bank fraud.