According to a recent report, JPMorgan Chase is withholding $43,000 from a Bank of America customer who fell victim to a scam. Hyeon-Jin Kwon initially lost $56,000 after a fraudulent individual, claiming to be a Bank of America employee, contacted her and successfully emptied her account, as reported by WMAR, an ABC-affiliated news station.

The scammer provided reassurance by asking Kwon to verify the number on her phone and the number on the back of her card. Kwon even went as far as googling Bank of America’s phone number, and everything seemed legitimate. Consequently, she believed the caller was indeed a representative from Bank of America. The imposter was even able to recite her entire credit card number.

The scammer then provided Kwon with a link to click on, through which she entered her information. This allowed the scammer to gain access to her bank account and take control, eventually transferring nearly all the funds from her checking account.

The scammers sent the stolen funds to a JPMorgan Chase account and managed to withdraw $13,000 in cash before the bank froze the account. This incident took place back in September. Fast forward to the present, Kwon claims that Chase has not released the remaining $43,000, and neither bank has reimbursed her for the stolen funds.

Kwon describes the situation as devastating, stating that it is one of the most challenging experiences she has ever gone through. She is uncertain whether she will be able to pay her rent, handle her bills, or maintain financial stability.

Kwon believes that the scammers are highly sophisticated, surpassing the banks in terms of technological advancement. She feels that they are constantly finding new ways to commit fraud, leaving innocent individuals vulnerable.

Bank of America has issued a statement regarding the incident, acknowledging that cases of identity theft can be complex and sophisticated. They emphasize their commitment to protecting their clients and working towards recovering stolen funds in such situations.

JPMorgan Chase has stated that they are collaborating with Bank of America to resolve the issue.

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Image: Midjourney