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Accounts Drained By Zelle Smishing Scam
From time to time, scammers come up with a new tactic using new technology, new events, or whatever they can to continue tricking us into giving up our personal or confidential information. Over the past few years and with the increasing use of texting and SMS messaging, a newer one in the bag of tricks has been coined as “smishing.” Because it’s text, it often catches people off guard and causes them to react quickly, which is exactly what you shouldn’t do. One of the latest is the Zelle smishing scam.
Often, various scams arrive via the data service on a smartphone. However, it can also be iMessage, which is the text messaging service that Apple uses over WiFi. But whatever the app is called, the term applies to any type of text messaging, including What’sApp, Facebook Messenger, and other chat programs.
What is the Zelle Smishing Scam?
Phishing is a method cybercriminal used for decades to try to dupe people out of information, and if they are really successful, login credentials or payment card details. Often, phishing comes via email and includes a link or attachment that when clicked, leads someone to fill confidential information into a form or install malware that steals data off the device. Researchers at Experian found that adults from 18-24 send over 2,022 text messages per month from their mobile devices for an average of 67 per day! That’s valuable information for the cyberthief just waiting to cash in. In a recent scam, users are sent a text message that appears to be from their financial institution attempting to confirm a Zelle transaction. However, that phone number is spoofed by the cybercriminal. A message might say something like “Did you attempt a Zelle Payment of < some amount>? Reply YES or NO or 1 to stop alerts.” In other cases, the text may want the user to confirm identity by reading or sending back a supposed code. If the user replies, money is transferred directly out of their account to the scammers.
While phishing and even smishing have been around a while, there is a recent scam that intends to steal money using the newer digital payment services, such as Zelle.
Zelle, launched in 2017, is often embedded into banking apps and links to a user’s banking account. It allows members to send money to other people instantly. All it takes is an email address or phone number. In 2019, the company reported that users of the service transferred $119 Billion.
Avoiding These Scams Saves Everyone Money
Federal regulations require financial institutions to reimburse customers whose money is fraudulently stolen from an account. But that doesn’t mean it’s no risk or no cost. The financial institutions incur costs for every fraud that often gets passed onto the members and customers. Therefore, it’s to everyone’s benefit to avoid becoming a victim of these types of scams in the first place.
- If you don’t know the sender, aren’t expecting a message with a link or attachment, or just aren’t sure a link is safe to click, don’t click it. Instead, contact the sender independently of the received message and ask about it.
- Don’t react quickly to any message, whether text, voice, or email that threatens something bad may happen if you don’t. Take a breath. Go to your financial institution’s website or app and log in there. Never click links in messages for financial related details.
- If you don’t initiate the phone call to your financial institution, don’t send information. Instead, log in to your account using the app or the banks official website and check on your accounts. Making a quick phone call using a number you find or know also works. Don’t use information sent to you in unsolicited messages.
- Remember that financial institutions do not ask you to verify or update details via text or email. Go directly to the official app or website to do this.
- It’s not rude to just not reply to suspicious emails or texts. In fact, it is recommended you do just that.
- Report fraud, like the Zelle Smishing Scam, that happens via smishing to the FCC. There is a form on the agency’s website. This helps the FCC combat these types of crimes and potentially protect others.
Other Smishing Scams
A few other common smishing scams include the following:
- A text message arrives that appears to be from the target’s financial institution requesting that a link be clicked that will go to a website to address and resolve an issue with the account or payment card. If it’s clicked, malware is installed and email address, contact list information, and other data is stolen.
- A text message claims the user signed up for some sort of service and will be charged unless a link is clicked. The result is again malware getting installed and data stolen from the device.
- The user is sent a text claiming he or she has won a prize of some sort. Often, it’s a gift card. A link must be clicked to claim the prize. The link directs to a website where personal information is requested, but the victim never gets the prize, of course. Instead, the information is used for spamming or efforts to steal additional information such as financial account credentials.
Read more Fraud or Stickley on Security Articles
Register for Mid Oregon’s webinar upcoming on Preventing ID Theft. Presented by the Digital Forensics Team at the Deschutes County Sheriff’s Office on Thursday, April 28 at 10 a.m.
See Mid Oregon’s Security and Fraud Center
Visit the FTC’s Identity Theft Information Webpage
The Friendlier Skies
Why now is the time to use airline miles
By Chris O’Shea*
The recent pandemic lull has seemingly come at an opportune moment: Right in time for summer vacations. If you’re considering flying to your summer destination and you’re sitting on airline miles, you’re in luck — now is the time to strike. Here’s why.
The Refund
As The New York Times notes, one of the best aspects of booking a flight with airline points is that they are fully refundable. That means if the pandemic somehow (ugh, fingers crossed) takes a turn for the worse between now and your summer vacation, you can change or cancel your flight without any fees or penalties. If you buy an airline ticket with cash, you’ll likely only get an airline credit if you need to cancel. And yes, you can buy a refundable ticket, but they’re usually more expensive than regular tickets.
The Value
Airline points are like currency for airlines, and that means they can change their value how they see fit. That’s why now is the time to use your miles. It’s plausible that your points’ value is at an all-time high. However, as flying demand increases, there’s a good chance that airlines will reduce their buying power.
The Options
In general, you have more options when flying right now. There are less travel restrictions from countries than since the pandemic began two years ago. That means you have more options to pick a great summer vacation spot. You also have more airline seating options now, as travel demand has just started revving up.
*This guest article is from the “Your Money Blog” in Mid Oregon’s Digital Banking Credit Savvy resource. It is made possible by SavvyMoney. “The Friendlier Skies” by Chris O’Shea was published in March 2022.
See additional articles by Chris O’Shea in the Mid Oregon View.
View additional Mid Oregon View articles on travel and vacation.
Support Health Screening For Preschoolers
Fun Mid Oregon Fundraiser Helps Preschoolers Receive Free Health Screenings
Mid Oregon is gearing up for its 18th Annual “Adopt-A-Bear” fundraiser April 1 through April 17 in support of Healthy Beginnings. They provide free health screening for preschoolers. We want to share how anyone can support health screening for preschoolers.
Over $35K raised for Healthy Beginnings since 2004
Since 2004, Mid Oregon’s Adopt-A-Bear annual fundraiser has raised more than $35,000 to help support Healthy Beginnings. Community donations keep their screenings free for all families who use their services. The screenings are performed by local medical, dental, nutritional, and behavioral specialists, The screenings providing parents with a thorough assessment of their child’s physical and developmental health.
That year, Mid Oregon’s CEO, Bill Anderson, and the Healthy Beginnings Executive Director at that time, Holly Remer provided a perfect solution to a fundraising dilemma with a creative campaign called “Adopt-a-Bear”. The colorful “teddy bear” became the vehicle to expand community awareness and provide needed revenue. Mid Oregon Credit Union staff and members “adopt” bears with their donations to Healthy Beginnings. As a result, the die-cut bears become the “wallpaper” at all their branches.
First Five Years Significant to Development
“So many critical developmental milestones happen in those first five years,” says Kathleen Cody, Healthy Beginnings current Executive Director. “Children suffering from unidentified medical or developmental issues can act out in various, unhealthy ways. Our assessments help catch these issues before school starts, giving parents an additional resource and peace of mind if they have questions about their child’s development.”
From April 1-17, we encourages Central Oregon communities to “Adopt-A-Bear” at any of Mid Oregon’s seven branches, by calling 541-382-1795, or going to our secure, online donation form. Donations will help ensure that every preschooler in Central Oregon is healthy and prepared to enter kindergarten ready to learn. This gives the opportunity to support health screening for preschoolers to virtually anyone in our region.
About Healthy Beginnings
Healthy Beginnings is a registered 503(c) non-profit organization located in Bend, Oregon. They are dedicated to ensuring that all local children enter their school life ready to learn, contribute, and thrive. Healthy Beginnings conducts free, comprehensive health and developmental assessments for children under the age of five. They use state-of-the-art screening tools and performed by certified volunteer health and behavioral specialists. These free health screenings are available to every child in Deschutes, Crook, and Jefferson Counties.
You can learn more about Healthy Beginnings at www.myhb.org.
Read past articles about Healthy Beginnings and Adopt-A-Bear.