Bank Impostor Scam Reports & Reviews (3)
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SCAMPULSE
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Scammer's address AL, USA
Country United States
Victim Location VA 22041, USA
Total money lost $9,950
Type of a scam Bank/Credit Card Company Imposter
Upon discovering the fraud, immediate action was taken:
The fraudulent activity was reported to the bank, which confirmed the transactions were unauthorized but refused to reimburse the stolen funds.
Zelle/Early Warning Services was contacted, but they redirected responsibility back to the bank, refusing to intervene.
Reports were filed with the local police department, the FBI’s Internet Crime Complaint Center (IC3), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB).
The most concerning part of this scam is the complete lack of consumer protection for Zelle transactions. Unlike credit card fraud, where unauthorized transactions can be disputed and reversed, Zelle provides no such recourse. Once the money is transferred, it is nearly impossible to recover, even when fraud is confirmed.
Further investigation revealed that the receiving banks knew the identities of the fraudsters—since banks require Social Security numbers and identity verification to open accounts—yet still refused to recover or return the stolen funds. Some banks cited that the money had already been withdrawn, meaning the victim is left to bear the full financial loss while the fraudsters walk away with the stolen funds.
This scam highlights serious security flaws in the banking system:
Lack of Protection for Zelle Transactions – Fraud victims have no way to dispute and recover stolen funds, even when banks confirm fraud.
Bank Negligence in Recovering Funds – Banks refuse to take responsibility or hold fraudsters accountable, despite knowing their identities.
No After-Hours Fraud Reporting – Some banks have limited business hours and no way to report fraud immediately, giving criminals time to withdraw stolen funds.
Consumers and small businesses should be extremely cautious when using Zelle, as financial institutions do not provide adequate fraud protection. If you receive a call from someone claiming to be from your bank, never provide verification codes or personal information. Instead, hang up immediately and contact your bank directly through a verified number.
This scam underscores the urgent need for stronger regulations and fraud protections for digital payment services like Zelle. If you have been a victim of similar fraud, report it to your bank, law enforcement, and the appropriate regulatory agencies.
Country United States
Victim Location NY 10017, USA
Type of a scam Bank/Credit Card Company Imposter
Scammer's address Philadelphia, PA, USA
Country United States
Victim Location PA 19446, USA
Type of a scam Bank/Credit Card Company Imposter
It did have fine line at end of page that it is not affiliated with any lender but they received info from public records. So I did not call them