Zelle Transfer Scam

A new scam has been circulating involving financial institutions that offer Zelle to their customers. Consumers across the nation -including Industrial CU members, have reported receiving text messages about Zelle transfers they have not authorized, immediately followed by phone calls that appear to be from their bank or credit union. The scammers are able to spoof the phone number on caller ID so it appears to be coming from the potential victim’s primary financial institution.

The caller/scammer then asks if the transaction was authorized and prompts the victim for their online banking information. The scammer then uses this information to access the account and complete a fraudulent Zelle transfer. Though the call may initially seem official, this is a fraudulent attempt to access your account by stealing your online banking login information.

As a reminder, Industrial will never ask for online banking passwords, one-time passwords sent via text or any other login specific information. If you receive a call like this, please do not give out your account information.


  • You are asked to confirm or give out login information over the phone.
  • You are contacted about a transaction by a party other than Falcon Fraud -the company Industrial contracts with to monitor Industrial accounts for possible fraudulent activity.
  • Industrial CU or its fraud detection partners may verify your activity over the phone, but will never ask you for account access information.
  • You are advised to contact a fake fraud investigation company and discouraged from contacting your credit union.


  • Never give out your full debit/credit card number unless you initiated or are expecting the call to complete a transaction.
  • Never give out your online banking login credentials.
  • If you receive a phone call that you think may be genuine, you should not ignore the possibility that there may have actually been fraud on your account. Ask the caller for details, then hang up and call Industrial to tell us what has happened. Make sure the phone number you use is genuine: use a number that appears on your statement or card, or in the phone book.
  • If you are ever in doubt about the legitimacy of a request by phone, don’t hesitate to end the call and call Industrial directly to verify legitimacy of the request.