CAN YOU GET YOUR MONEY BACK IF SCAMMED ON ZELLE APP?

CAN YOU GET YOUR MONEY BACK IF SCAMMED ON ZELLE APP?

If you have been scammed on your zelle account then we have unfortunate news for you -You might not be able to get your money back because you authorized the payment, warns the Zelle website.

The software claims that it will nonetheless alert your bank or credit union of the information. Zelle urges victims to  report the scam to their banking institution and the FBI Internet Crime Complaint Center.

It's critical that people get informed about the Zelle hoax. Even while you can attempt to get your money back, there is no assurance of success.

NOTE- IT is possible to get your money back in case the there is a resolution to the complaint reported by you to the banking institution, or the FBI internet crime department.

HOW DOES A SCAM TAKE PLACE

 Be wary if your bank texts you with a scam alert stating that an unlawful payment is being made from your Zelle account. It is highly likely that this activity is being conducted by a scammer.

The con artists will phone you after you click "no" and ask you to confirm your identity by providing them with your username. Nowadays, it's simple for con artists to "spoof" bank phone numbers, making it seem as though your bank is calling.

The con artists will claim to be sending you a one-time code and a notification from Zelle regarding the transfer after they have your username and other details.

The victim is actually being guided through the process of changing their account password by the fraudster. The victim's bank account can be completely emptied in a matter of minutes once the password has been changed, according to a Community Awareness Bulletin from the Pennsylvania State Police posted in January 2022.

HOW TO BE MORE SECURE ON PLATFORMS LIKE ZELLE?

 The Pennsylvania State Police advises customers to follow these precautions while using peer-to-peer payment services like Zelle, Venmo, and PayPal to avoid falling victim to fraud:

-       Learn about the fraud prevention rules of your peer-to-peer payment app.

-       Learn how to utilize the mobile app for your organization and turn off any features you don't intend to use. If you require assistance, speak with someone at your banking institution.

-       Learn how to spot fraud notices from your financial institution and what to do if one arrives.

-       Text messages should be carefully read, so ignore those that don't make sense or are from organizations with which you don't have an account.

-       If you get a call claiming to be from your financial institution, hang up and give them a call back at a number you are sure is real. The phone number is available online and in their mobile app.

-       Usernames, passwords, one-time codes, and other authentication information are all considered confidential and shouldn't be disclosed to anybody, not even a representative of your financial institution. Your financial institution won't ever request your login details from you.

CONCLUSION

 It is unfortunate news that the possibility of getting your scammed money back is highly unlikely, it is therefore requested by all the financial institutions to be careful regarding your credentials to the respective account