What is the Zelle “Business Account” Scam

This scam is most commonly encountered when you are trying to sell something online like on Facebook Marketplace. It is a form of the fake payment scam. The scammer will claim they send a payment. You will then get an email saying you need to upgrade to a business account but there is not such things as having to pay to upgrade to a business account in order to receive funds from someone else. The scammer may even claim they sent you extra money and you need to send the money back.
Money goes straight to your bank account from Zelle, you don’t have to actually accept it.
Zelle has no purchase protection. You can’t ask for the money back because the other party didn’t deliver. Only unauthorized transactions can be reversed.
Always require cash from online marketplaces. Zelle, CashApp are only for people you know and trust. Zelle transactions can work just based on phone numbers. Email addresses are not necessary. Always look at the From email address. It will usually have a strange domain address. If you are going to meet someone, do not allow third parties.
Many scams use a sort of intelligence filter so that the only people that fall for them are easy pickings, and it essentially becomes like shooting fish in a barrel. Scammers don’t want to waste time on a mark, only for the victim to realize what is happening.
Works Cited:
https://www.gobankingrates.com/banking/mobile/zelle-scams-facebook-marketplace/
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