Protecting a client from fraud after a suspicious phone call

Situation

Hua received a call from an unknown number requesting that she withdraw funds from her account to pay a bill related to servicing her trust. Unsure of the legitimacy of the request, Hua reached out to her J.P. Morgan team for verification. 

Our Approach

Recognizing the call as fraudulent, Hua’s J.P. Morgan team promptly reached out to the J.P. Morgan Fraud Prevention team. Given Hua’s heightened concern for the security of her funds and her desire for additional protective measures, the Fraud Prevention team designated her account as being high risk. This designation required certain transactions to receive clearance from the Fraud Prevention team before execution. Additionally, Hua’s funds were transferred to a different account to prevent any further attempts by the fraudster to compromise her account. 

Outcome

Hua felt reassured knowing that her assets were safeguarded and that a dedicated team was actively working to protect her account against fraud attempts.

J.P. Morgan invests heavily in cybersecurity and fraud protection to keep clients like Hua safe. Key ways client assets are safeguarded include:

• Dedicated Fraud Prevention, Cyber Advisory and Client Service teams that work to keep accounts secure
• Multi-layered authentication technology and processes
• Trainings and educational materials

Advanced fraud detection technology monitors for:

• Newly created look-a-like domains to mitigate phishing risks
• Signs of a spoofing attack
• Potential mobile device compromises
• Potentially suspicious transactions and beneficiaries, or account changes