New Report Shows JPMorgan Chase, Wells Fargo, and Bank of America Closing Doors on Fraud Victims

New reports indicate that JPMorgan Chase, Wells Fargo, and Bank of America are shutting their doors on customers affected by fraud, denying their claims and refusing to reimburse their accounts.

JPMorgan Chase has denied refunds to customers in Northern California after fraudsters used fake driver’s licenses to initiate unauthorized withdrawals, according to ABC affiliate KGO-TV. Katrina, who preferred not to share her last name, stated that the impersonator withdrew money from her Chase account without her debit card or PIN.

The still-active scammer withdrew a total of $1,500 from Katrina’s account. After filing a police report, she received a letter from Chase the following month, informing her that the bank had denied her claim, accusing her of both authorizing and benefiting from the withdrawals. After seeking help from local news, the bank reversed its decision.

Meanwhile, Wells Fargo is facing scrutiny, as reported by NBC affiliate WGAL. Stephanie Zufall received a message asking her to verify a $1,300 Apple Pay transaction. She responded with “no,” only to soon receive a call from someone impersonating a Wells Fargo representative.

The scammer tricked Zufall into depositing $3,000 through a mobile wallet at an ATM and then linked her account to his. Wells Fargo denied her claim but responded to news reports and reopened the investigation.

Lastly, Bank of America stated it would not reimburse an aspiring entrepreneur’s account after she lost $20,000 to a scammer impersonating the bank. The customer reported receiving a call from a number that matched the BOFA support line, according to ABC affiliate WLS-TV.

The scammer convinced her to transfer the money to a supposed secure location, only for her to later realize she had been deceived. Bank of America stated it does not take responsibility, emphasizing that its actual employees would never ask customers to wire money over the phone.

The customer mentioned that the loss has forced her to abandon plans to start a new business. “I’ve been working 10 to 13 hours without a break. I have to make up for the money stolen from me, which was not just taken from me but also from my children,” she said.

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