JPMorgan Chase Allegedly Allows $205,542 Withdrawal After Bank of America Warns Cash Is Stolen, Belongs To Customer

JPMorgan Chase is facing a lawsuit from Massachusetts-based healthcare company Baystate Health, which accuses the bank of allowing a scammer to withdraw over $200,000 from a fraudulent account after being warned of the activity. Baystate Health claims it fell for an email scam in November 2022 and wired $700,000 to the fraudulent account. After realizing the fraud, Baystate alerted Bank of America, which then warned Chase. Despite the warning, Chase allegedly allowed the scammer to withdraw funds. Baystate is seeking compensation for the remaining $420,000 that is still missing, plus interest. JPMorgan Chase has not yet publicly commented on the case.