A JPMorgan Chase customer, Avalon Grimes, lost her life savings when she fell victim to a phone scam. The scammer used a technique called spoofing to mimic Chase’s actual phone number and convinced Grimes to transfer her money to another account.
Apple’s Response
Apple has responded to the incident by removing a group of apps from the App Store that allow users to spoof numbers. The company says it has sophisticated systems in place to thwart fraudulent apps and that the apps were removed because its policies ban apps that allow users to make anonymous or prank calls.
Chase’s Response
Chase says it will never call customers or ask them for security codes. However, the bank will not have to reimburse Grimes because the government requires banks to reimburse customers in certain cases of fraud, but not when the customer is tricked into approving fraudulent transactions.
The Takeaway
This incident highlights the importance of being vigilant about protecting your personal information. Never give out your security codes to anyone, even if they claim to be from your bank. If you receive a call from someone claiming to be from your bank, hang up and call the bank directly using the number on the back of your debit or credit card.
