This week saw several reports of bank account thefts and confusion over account closure policies. Here’s a rundown:
Zelle Scam Costs JPMorgan Chase Customer $28,000
A shocking $28,000 was stolen from an 86-year-old JPMorgan Chase customer’s account using Zelle. Police in Connecticut say his caretaker, Jennifer Cedeno-Leon (37), is responsible for making unauthorized transfers to herself. The victim’s daughter discovered the theft after becoming her father’s financial power of attorney.
Wells Fargo Customer Ripped Off, Scammer Laughs
A Wells Fargo customer, Aleah McPherson, lost $8,265 to scammers posing as bank employees. They convinced her to transfer her money via Zelle and a Chase digital wallet for “safekeeping.” After the transfer, McPherson heard the scammers laughing on the phone. Local authorities are investigating the theft.
Bank of America Clarifies Account Closure Policy
Rumors circulated about Bank of America implementing a new policy that would close inactive accounts after three years. Bank of America clarified that this policy has existed for a long time and is nothing new. They stated that all banks must follow state laws regarding abandoned accounts. There have been no recent changes to their policy.