JPMorgan Chase Abruptly Freezes $43,000, Refuses To Release Funds To Scammed Bank of America Customer: Report

JPMorgan Chase is refusing to release $43,000 that belongs to a scammed Bank of America customer, according to a new report.

Hyeon-Jin Kwon says she initially lost $56,000 after an impostor claiming to work at Bank of America gave her a call and managed to drain her account, reports the ABC-affiliated news station WMAR.

“[The scammer] reassured me to check the number on my phone, check the number on the back of the card. I even Googled Bank of America’s phone number and everything lined up, so I thought for sure she’s from Bank of America, and then she was able to actually read off my entire credit card number…

They gave me a link to click through, which I entered in my information, and through that, she was able to access my bank account and take control. And she managed to wire out almost my entire checking account.”

Kwon says the scammers sent her money to a JPMorgan Chase account and managed to withdraw $13,000 in cash before the bank froze the account.

That was back in September.

Flash forward to today – Kwon says Chase has not released the remaining $43,000, and neither bank has reimbursed the stolen funds.

“It was devastating. I think this is probably one of the hardest things I’ve experienced in my life. And not knowing if rent can get paid, you know, my creditors, my bill collectors, and how do I even stay afloat?

“The people that are committing the fraud, they’re very sophisticated. I think they are miles ahead of what the banks are doing. So, it just seems like we’re just open game for being hit with fraud.”

Bank of America has released a statement on the matter.

“Identity theft cases can be complex and sophisticated. We prioritize client protection and work to recapture stolen funds in incidents like this.”

JPMorgan Chase says it’s working with BofA to resolve the issue.

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