JPMorgan Chase Will Not Return Money To Customer Who Lost $30,000

A JPMorgan Chase client, Milissa Ferrari, fell victim to a sophisticated banking scam and lost $30,000. She received a text message and a call from a number that matched Chase’s customer support number on her debit card.

A female voice on the call informed her of potential wire fraud on her account and asked her to press 1 to speak to a fraud agent. After pressing 1, she was connected to a scammer who tricked her into handing over her bank account details.

The scammer instructed her to visit her bank in person to unlock her account, which she did right away.

A teller at the bank assured her that everything was fine. Only later did she realize that she had been scammed by someone posing as a Chase representative over the phone. Unfortunately, the bank has refused to reimburse her for the loss.

Within a week, the scammer was able to transfer $30,000 out of Ferrari’s account via wire transfers. Ferrari then visited a different branch and was informed by a representative that Chase had not provided adequate assistance.

“She looked at me and said, ‘I am so sorry we failed you. I’ve talked with the other branch and I know what happened to you there. We should have closed your account that very first day.’”

In a statement, JPMorgan Chase made sure to explain the fact that it tried to recover the funds and has sympathy for Ferrari, although the bank will not reimburse her account.

“These types of scams are heartbreaking. As soon as Ms. Ferrari reported the scam we tried to get her money back but we were not successful.

We urge all consumers to protect their accounts by never sharing personal information with someone they don’t know. Banks will never call, text or email asking customers to send money to themselves or anyone else to prevent fraud, but scammers will.”