Baptist Health South Florida FCU



This page has been created to educate members on a few of the most common scams to watch out for.

If you have any concerns regarding possible fraudulent calls, texts, or emails, please contact the Credit Union during our regular business hours at (786) 257-2300. If you received a check or direct deposit that you suspect may be fraudulent, please speak with a Credit Union Representative before withdrawing the funds.

Zelle / P2P Scam

The Zelle / P2P scam has fraudsters impersonating a Zelle account holder’s financial institution and deceiving the account holder into using Zelle to transfer funds to themselves using their mobile phone number under the guise that it will replace funds stolen from their account. However, the Zelle transfers go to the fraudsters.

Here is how it works:

  • Fraudsters send text alerts to account holders – appearing to come from their financial institution – asking the account holders if they attempted a large dollar Zelle transfer.
  • Fraudsters immediately call the account holders who respond ‘NO’ by impersonating the financial institution’s phone number and claiming to be from the financial institution’s fraud department.
  • Fraudsters tell the account holders the Zelle transfers went through, but the funds can be recovered.
  • Fraudsters tell the account holders in order to recover the stolen funds, they must use Zelle to transfer the funds to themselves using the account holders’ mobile phone number, but before doing so, the fraudsters instruct the account holders to disable their mobile phone number associated with their Zelle account.
    Note: Fraudsters may have previously opened an account at the account holders’ financial institution (likely using a stolen identity) and established Zelle through online or mobile banking linking the member’s mobile phone number to Zelle.
  • When the fraudster links the account holder’s mobile phone number to the fraudster’s Zelle account, a 2-factor authentication passcode is generated and sent to validate the mobile phone number. The text message containing the passcode is actually sent to the account holder’s mobile phone; however, the fraudster cons the account holder into providing the passcode over the phone (The text containing the passcode has the financial institution’s name, which explains why the fraudsters open a fraudulent account at the account holder’s institution.)
  • The fraudster enters the passcode to activate the mobile phone number on their Zelle account.
  • The account holders are instructed to Zelle themselves the funds.
  • The Zelle transfers actually go to the fraudsters.

If you believe someone is calling you impersonating our financial institution, do not communicate with the caller. You may call our Contact Center at 786-257-2300 or visit one of our branches to authenticate the issue.

For additional information on these and other scam alerts, please visit the Federal Trade Commission's Scam Alerts page at https://www.consumer.ftc.gov/features/scam-alerts 

You can also learn about scams that are active in your area by visiting the Better Business Bureau's Scam-Tracker site at https://www.bbb.org/scamtracker