How is this Possible? (Bank Fraud; Vanity)

Self ^ | 5/20/2026 | Self

[mononymous]

Sequence of events:

1. last October, a report was filed with JPM Chase that a customer's contact info was compromised after someone called pretending to be from Chase, and spoofing one of their branch phone numbers - supposedly, a note was placed on the account as a flag.

2. late last month the customer's debit card info was stolen; the debit card is ONLY ever used at two specific Chase branches, and ATMs (and is otherwise kept at home); people have been observed loitering in the bank's lobby, near the ATMs, and after hours - could these people be there, stealing info? Why does the bank allow this, they monitor their lobbies, there are always cameras...could they not dispatch security when this happens?

3. a fake state of Maryland license was created, using the customer's name, address unknown (presumably, in MD); customer lives in NY.

4. an entirely fake debit card was also created; how this is even remotely possible, I do not know. One would think that the largest bank in the country would have proprietary chips on all of their cards that cannot be duplicated, and that has essential read only data from said chip that must be authenticated during each transaction. If such features exist, they were somehow defeated.

5. using the items above, the fraudster walked into a Chase branch in Florida, and was allowed to reset, via a teller, the PIN on the fake card, and change the phone number on the account - nothing flagged the fakeness of either document; the note on the account, presumably asking for closer scrutiny, meant nothing.

6. the fraudster was then allowed to make four transactions using these fake documents, on the same day (what about limits on withdrawals?). Three transactions were from a checking account, and one from savings, the total withdrawn was almost $5K.

7. the bank was alerted, in real time, as to what was happening; in fact, at some point during the transactions, Chase did send a fraud alert. The customer was re-paid, only after the staff at the local branch intervened with the facts, that is, that the customer was NOT in FL, but was physically present in the branch on the day of and near the time of the fraudulent activities.

8. the bank will not report any of this to any law enforcement agency; the fraudsters get to keep the loot, and continue on to the next person.

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TOPICS: Business/Economy; Miscellaneous; Society
KEYWORDS: bank; chase; crime; fraud; jpm; theft; vanity

[mononymous]

To repeat the question, how is this possible - the easy duplication of the country's largest bank documentation, and the fact that not a single law enforcement entity will be alerted in what is a multi-state crime.

Is this sort of like voting machines/tabulators where a single ballot can be scanned a million times, and be counted every single time as opposed to just once? Who the hell design these things?

[Zathras]

All you really need is a few bits of personal info and a poor password at your bank and it can happen.
One of the reasons why most companies are going to “passkey” is for exactly this reason.

[House Atreides]

I use a passkey PLUS add two-factor authentication to access any financial account.

[Rockingham]

Do the math. From a large bank’s standpoint, minor credit and debit card fraud are an inevitable and relatively small cost of doing business. In contrast, going to court over such fraud is more expensive in bank resources and executive time.

[Big Red Badger]

I was told my ID was compromised from my investment accounts and offered 2 yrs of Monitoring my Credit..
.
I don’t need This headache.

[Vermont Lt]

If you have access to the cards, you have access to the information stored on the chips. It’s not exactly rocket science.

That said, the banks are usually going to eat the fraud. Unless you have evidence of the person using the card/information they will not prosecute. The dollar amounts and time it takes to do so—in various states—is not worth the effort. They have had accountants and actuaries figure all of this stuff.

If you are not getting reimbursed from the bank, contact your State’s banking control office or Attorney General. They deal with this stuff every day. Most banks will eventually eat it and put it back in your account.

Whomever the victim was, tell them to ignore any emails or phone calls in the future. If a branch calls, tell them to GO to the branch.

I’ve worked in banks and had accounts at banks and they have NEVER called me about any data breaches. If it doesn’t make sense, do believe it. These fraudsters will go after the elderly or misinformed. Fortunately, banks are used to this and should recover quickly.

[Clay Moore]

Make a police report. We had a check recycled and in our town, PD will prosecute any fraud over $150.

[Reddy]

Had a CC stolen and could see in real time that it was being used to check in to a hotel. I told the bank and they didn’t seem to care. We got the charge removed from the card, but come on! I almost called the front desk myself, but I was like if the bank who is losing the money doesn’t care, then I don’t care I guess.