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September 2022 - TNTMAX

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The “Pay Yourself” Scam: What You Need to Know

Zelle and Bank of America are calling attention to what is called the “pay yourself” scam. It begins with a text message from a scammer that looks like a fraud alert from your bank. If you respond to the message, you’ll receive a call from a number that appears to be your bank. The scammer then pretends to be a representative from your bank or credit union and offers to stop the alleged fraud.