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The City of Portland, Oregon

Office of Management & Finance

Bureau of Technology Services

BTS HelpDesk: 503-823-5199

111 SW Columbia St, Suite 400, Portland, OR 97201

Zelle Vulnerability exploited (mobile banking app)

By Christopher Paidhrin 0 Comments

Zelle user bank accounts compromised through social engineering:

-- Many banks partner with Zelle to provide mobile banking services. This NBC News video segment may be of interest.

https://www.nbcnews.com/nightly-news/video/how-scammers-are-using-this-popular-banking-service-to-drain-your-bank-account-61726789788

Further Details on how scammers are creating unauthorized Zelle accounts through social engineering:

https://www.nbcnews.com/business/consumer/instant-fraud-consumers-see-funds-disappear-zelle-account-scam-n1015736

Recommendations:

1) Activate Multi-Factor Authentication (MFA) for access to your bank account, regardless of device or location.

2) Activate bank transaction 'alerts', which means your bank will send you a text message when a transaction occurs.

     A number of banks will also let you decide minimum thresholds for notification, such as $100.00 or above.

3) Check your bank account regularly to look for any unauthorized or unanticipated charges or transactions.

4) Never respond to text prompts or calls that request passwords, passcodes, PINs, or account information. Only provide your bank or card service provider with information when you have contacted them through a secure login website or when you have called them through a published contact phone number.

Be safe out there!

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