Greg's Corner

Bank scammer has answer for everything

By Greg Collier

Payment apps like Zelle, Venmo, and Cash App are incredibly convenient. They allow us to send money to family and friends without the need for writing checks or money orders. However, what we get in convenience, we sometimes lose in security. Scammers are experts in taking advantage of the flaws in security that some of these apps have. With just a little social engineering, scammers have been known to rake in the cash by emptying the accounts of victims while the victim does most of the work for them. Not to mention that these scammers are so well practiced, they have an answer for just about everything when you try to ask questions about what they’re telling you.

A woman from Tennessee almost feel for one of these well-crafted scams that involved her bank. She received a text that appeared to come from her bank. The text message asked if she had just made a purchase for $3500. This was followed up by a phone call from someone claiming to be a bank representative. The woman questioned if this call was actually from her bank, and the caller replied that she can verify the call by matching the phone number that called her with the customer service number of the back of her card. Of course, these number can and have been spoofed. She still wasn’t satisfied with the caller’s answer and told the caller she was going to hang up and call customer service. The caller then said that if she called customer service, she would be on hold for a long time and that he was there to help her with the problem now.

This is where the payment app comes into play. The caller told the woman that she needed to send herself $3500 through Zelle to reverse the supposed charge. She then received an email with her Zelle activation code., The report of the incident doesn’t state it, but it most of these cases, the caller will then ask for the activation code, so they can hijack your Zelle account. Since most Zelle accounts are linked to bank accounts, this could have disastrous effects.

Thankfully, the woman decided to go to a local branch of her bank before she sent any money.

If you receive one of these calls purporting to be from your bank, politely end the call. First, you should check your bank statement online or through the bank’s app to see if any fraudulent charges have been made. Even if no fraudulent charges appear, call your bank’s customer service number from the back of your debit or credit card. Don’t do a web search for the customer service number, as these can often be scams themselves. But speak with the bank to make sure your account has not been misused. However, the best thing you can do is what this woman did and go to your bank’s local branch. They’ll be able to verify any fraudulent activity on your account in person.