I was texting back and forth about something with my son in college this past weekend and of course like all college kids do, the topic of money came up. Now of course in this day in age, mobile payment apps like CashApp and Zelle are part of our daily lives and its the fastest way to move money when needed. I use CashApp regularly but my son asked that I use the Zelle app to send him some money instead.

So I downloaded the app but paused for a second and thought "maybe I need to check this out to make sure" because I know with ANYTHING involving my personal data, I need to verify that what I'm working with is legit. I guess its because since I'm in the media business and have to report on "scams", I lean towards caution because I don't want to get got myself. Good thing I paused to because there's reports of a scam going around where folks are getting their money stolen using the Zelle app.

Scammers Use A Method Called Phishing To Take Your Money

The scam starts by you receiving a text claiming to be a "Fraud Alert" from Bank Of America asking if you attempted to make a large cash transfer through Zelle. The text looks like its coming from an official number with Bank Of America but what the scammer more than likely has done is "spoofed" the number in an attempt to get you to provide your personal information.

The text then asks you to reply "Yes Or No". Folks who reply "No" report that they then received a phone call from the "Bank" number telling them that the only way to stop the fraud was to make another Zelle transaction. Its at this point where folks report that they saw money getting stolen from their account.

Before you reply with an answer to a text like that, CALL your bank immediately to confirm it. Also, never respond to unsolicited emails, texts or phone calls, and be cautious even if the caller ID says the name of your bank or another financial institution. Look up the contact information online and reach out to the bank directly.

Bank of America also issued a warning to customers saying that it will not ask customers to transfer money between accounts or request sensitive information so if that happens, be suspicious and recognize that you might be getting scammed. Don't get got folks!

LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

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