All articles tagged with #wire transfer
An Oakland woman, Jazz Powell-Loggins, lost $12,145 after a scammer impersonating a Charles Schwab representative pressured her over the phone; Schwab declined to cover the loss, she’s seeking arbitration and has reported the incident to police and the FBI as authorities suggest the call may have been a diversion while the funds were moved.
Minnesota Vikings linebacker Dallas Turner was defrauded of approximately $240,000 in a bank scam where he was impersonated by a caller claiming to be a Chase Bank employee, leading him to wire the money to two fake accounts; police are investigating and have recovered about $2,500.
A Wells Fargo customer in Nebraska had $20,000 drained from her account after receiving a call and texts from what she thought was her bank, leading to an unauthorized wire transfer. The bank has advised customers to ensure the validity of wire transfers as they cannot be canceled once initiated. The victim has filed a police report and is awaiting a full reimbursement from Wells Fargo, while also seeking support from a credit service. The bank emphasized the need for customers to be cautious and not solely rely on caller ID, as scammers are becoming increasingly sophisticated.
A customer in Utah lost $20,000 from her JPMorgan Chase account to scammers who exploited a loophole in the Electronic Fund Transfer Act, leaving her without protection. The scammers posed as Chase fraud department employees and convinced the customer to provide verification codes, ultimately authorizing the fraudulent transaction. Due to limited protections in the 1978 law, the bank denied her claim, highlighting the increased vulnerability of bank customers to such scams, particularly with the rise of digital banking and wire transfers during the pandemic.