The Zelle / P2P fraud scam is widespread and has been making local and national news as the social engineering tactics used by fraudsters in this scam continue to evolve. A newer version of the scam has fraudsters, impersonating a Zelle user’s financial institution, conning the user into using Zelle to transfer funds to themselves using their mobile phone number under the guise that it will replace funds stolen from their account. However, the Zelle transfers go to the fraudsters.

AllCom continues to urge you to be wary of texts or calls appearing to come from the credit union. Never use Zelle, or any other P2P service, to transfer funds to yourself and to call the credit union using a reliable phone number to question any text message or phone call that seems to be received from the credit union.

Here’s a reminder of ways to protect yourself:

1. Pay it safe: Many P2P apps don’t let you cancel a transaction once you’ve sent it to another user. With that in mind, avoid sending or requesting money from anyone you don’t know and trust.
2. Take your time: Try not to rush when you’re using a P2P app to send money. If someone is pushing you to act quickly, it could be a red flag.
3. Treat payments like cash: Money moves quickly when you use P2P apps. Once you hit send, money doesn’t take long to reach its destination. It’s a good idea to double check you have the correct info to make sure your money goes where you intended.
4. Use your security settings: P2P apps have measures in place to help keep your account secure. Two-factor authentication requires you to provide multiple pieces of information to access your account. The first is typically your username and password. The second step might require you to enter a numeric code you’re given in an email or text. Or you might use fingerprint or facial recognition.
5. Be aware of phishing: One way fraudsters might try to access your account is by posing as your bank or a P2P company. They may try to contact you through emails, calls or texts. Avoid clicking links and sharing personal information. They may also claim you need to download another app or give them remote access to transfer money. Never give remote access to a third party.
6. Keep your personal information private: If you use social media, avoid sharing things like your address, phone number and other personal details. And ignore friend requests from people you don’t know.
7. Protect your passwords: Use different passwords for P2P apps and other sites. If you’re worried about remembering them all, there are tools available that might be able to help. And like the tip about your personal information, don’t share your passwords with others.