Because Zelle is an easy way to send and receive money, it's also an easy way for hackers to steal it. In a recent Readers Digest article, Monica Eaton of Chargebacks911 offers consumers advice about how to protect themselves from P2P scams.
Reader’s Digest is America’s fourth-largest magazine by circulation. After nearly a century in publication, RD stands out more than ever in today’s cultural landscape due to its optimism, faith, heroism, trust, humor, and wellness themes.
The article explained that contactless payments have normalized, and with them, digital wallet options have popped up everywhere. This includes places that used to only accept cash, like farm stands, garage sales, and peer-to-peer payments. While this is incredibly convenient, it can also lead the unsuspecting to become victims of scams.
Zelle scams are simply one of a rising number of P2P payment scams that have emerged in the post-pandemic era. “Over 100 million people use Zelle to transfer nearly $500 billion annually, which is a staggering amount of money,” says Monica. “So, naturally, when you have that many people transferring that much wealth, it’s going to attract the attention of hackers, criminals, and cyberthieves.”
To encourage their readers to stay safe, Readers Digest identified the most common Zelle scams you might encounter and provided information about what to do if you accidentally fall for one. The author warns readers to remember that scammers are sneaky. If something seems off about a monetary transaction, it probably is.
