JPMorgan Chase says the news that a scammer stole $11,000 from a retired postal worker’s account is heartbreaking, but the bank won’t make the customer whole.
Robert Wolfe, an Indiana resident, says he recently received a text message that appeared to be from the banking giant, asking if he had initiated some large transactions from his account, CBS affiliate news station WKMG reported.
Wolfe replied “No” and says he promptly got a call from a slick scammer claiming to be a Chase representative.
“The scammers are using Chase’s proprietary system against them. I believed without a doubt that I was speaking to someone from Chase security.
The scammer sent a one-time passcode to Wolfe’s phone and asked him to read the number out loud, which he did.
Wolfe says that’s when he realized something was wrong and called the bank directly. But despite his quick action, $11,000 was debited from his account, and Chase denied his claim.
“It happened very quickly and I received no help from Chase to get the money back.
I’ve reached the point where I think my money is almost safer in my pocket than in the bank.”
JPMorgan released a statement on the matter, saying Wolfe’s story is sad, but he will not be compensated.
“It is heartbreaking when criminals trick consumers into sending money or sharing their account details, passwords or one-time passcodes. Banks will never call you to ask for this kind of information, but scammers will.”
If the fraudsters had used the Zelle payment platform, things might have turned out differently.
The 2,100 financial companies that use Zelle have started refunding customers who were deceived and allowed criminal transactions, Reuters reports.
Customers can report fraud on the Zelle network here.
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