- link Copy URL - [ Share on X ](https://twitter.com/intent/tweet?text=What You Need To Know About Electronic Payments Fraud – Tips From KeyBank https://www.3blmedia.com/markdownify/node/1314226?absolute=1&via=3blnews "Share on X") - [ Share on linkedin ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.3blmedia.com/markdownify/node/1314226?absolute=1 "Share on Linkedin") - [ Share on facebook ](https://www.facebook.com/sharer/sharer.php?u=https://www.3blmedia.com/markdownify/node/1314226?absolute=1 "Share on Facebook") - [ email Share via email ](mailto:?subject=What You Need To Know About Electronic Payments Fraud – Tips From KeyBank&body=ESG News from KeyBank https://www.3blmedia.com/markdownify/node/1314226?absolute=1 "Share via email") [Corporate Responsibility](/categories/corporate-responsibility) # What You Need To Know About Electronic Payments Fraud – Tips From KeyBank May 21, 2026 9:00 AM ET ![KeyBank branch](/sites/default/files/styles/carousel_2x/public/images/what-you-need-know-electronic-payments-fraud_KEYBANK_052026.png) Electronic payment systems make it easier than ever to manage money—but they also present opportunities for cybercriminals. **Electronic Payments Fraud** occurs when criminals exploit online banking tools, merchant payment systems, and peer‑to‑peer platforms such as Zelle® and PayPal® to steal funds or sensitive financial information. Understanding how these fraud schemes work is the first step toward protecting yourself. Below [KeyBank](https://www.key.com/personal/index.jsp) is sharing information about the most common types of electronic payment fraud, how they occur, and steps you can take that can help safeguard your accounts. **Common Types of Electronic Payments Fraud** **1. Stolen Online Card Information** **What it is** Fraudsters steal debit or credit card details and use them to make unauthorized purchases or obtain cash advances. **How it happens** Criminals may: - Hack into online platforms where card data is stored - Use phishing emails or texts to deceive victims into revealing card information - Employ social engineering tactics or card‑skimming devices to capture account details **2. Wire Fraud** **What it is** Victims are tricked into sending money directly to a fraudster via wire transfer—often with little chance of recovery due to the speed of these transactions. **How it happens** Scammers frequently impersonate trusted individuals or legitimate businesses and fabricate urgent scenarios (such as legal issues, emergency payments, or compromised accounts) to pressure victims into sending funds immediately. **3. Account Takeover (ATO)** **What it is** A fraudster gains unauthorized access to an account and uses it to conduct fraudulent activity. While financial accounts are common targets, email, e‑commerce, and social media accounts are also at risk. **How it happens** Account takeovers often result from: - Phishing emails or fake login pages - Malware infections - Reused passwords across multiple websites—especially if one of those sites has been compromised **4. Payment App Fraud** **What it is** Victims are deceived into sending money through payment apps such as Zelle® or PayPal®, believing the recipient is a trusted person or legitimate business. **How it happens** Fraudsters may: - Impersonate known contacts - Create fake profiles or spoof account details - Exploit urgency or emotional manipulation to prompt quick transfers **Protecting Yourself: KeyBank’s Fraud Prevention Best Practices** Taking proactive steps can significantly reduce your risk. KeyBank strongly recommends the following safeguards: - **Never share sensitive information** such as passwords, PINs, or credit card numbers with unknown or unverified sources - **Create strong, unique passwords** with at least 15 characters, mixing upper‑ and lowercase letters, numbers, and symbols - **Enable two‑factor authentication (2FA)** on all eligible accounts - **Monitor your accounts regularly** for unauthorized transactions or unusual activity - **Review your credit report** on a routine basis to detect suspicious changes - **Only enter payment information on trusted websites** and avoid unfamiliar checkout pages - **Avoid clicking suspicious pop‑ups, links, ads, or email attachments**, especially from unknown senders - **Use secure Wi‑Fi networks** when accessing financial accounts - **Shred documents** containing personal or financial information before disposal - **Stay informed** about emerging fraud tactics and cybersecurity best practices - **KeyBank clients:** Activate account alerts through online and mobile banking to receive real‑time notifications of account activity **What to Do if You Suspect Fraud** If you believe you may be a victim of electronic payments fraud, **contact your bank immediately**. Early action can help limit losses and protect your accounts. **KeyBank clients** should contact the **KeyBank Fraud Client Service Center** at **1‑800‑433‑0124.** **Dial 711 for TTY/TRS.** To learn more about fraud prevention tools, resources, and safe banking practices, visit the **KeyBank Fraud Protection Center** at **Key.com/fraud**. This document is designed to provide general information only and is not comprehensive nor is it legal advice; particular situations may require additional actions. If legal advice or other expert assistance is required, the services of a competent professional should be sought. KeyBank does not make any warranties regarding the results obtained from the use of this information. All rights reserved. All trademarks, service marks, and trade names referenced in this material are the property of their respective owners. Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC, and are used herein under license. Venmo is a registered trademark of PayPal, Inc.©2026 KeyCorp®. All rights reserved. KeyBank Member FDIC. 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