locate an office

offices near you

office near you

A suspicious payment is flagged, protecting a client from fraud

Situation 

Wei, an established client of J.P Morgan Private Bank, regularly makes payments to vendors using J.P. Morgan OnlineSM to satisfy business-related invoices. During a normal business day, Wei received an invoice through an email from what appeared to be one of his existing vendors requesting he follow new payment instructions. He entered the payment details on J.P. Morgan Online and authorized a transfer for $99,101.

Our Approach

The payment was flagged for additional review by J.P. Morgan’s Fraud Prevention team, who were immediately suspicious of the transfer, as it was larger than Wei’s usual transactions to the vendor. Concerned, Wei’s Private Bank team contacted him to discuss the situation. Although confident the payment instructions were valid, Wei asked for further assistance to confirm the details. As a result, the Fraud Prevention team worked with Wei to contact the vendor directly in order to verify the payment details. After contacting his vendor they confirmed that the payment instructions were in fact fraudulent, as they did not send Wei any new payment instructions. 

Outcome

The J.P. Morgan Fraud Prevention team helped Wei stop the fraudulent payment and partnered with him to send the payment to the correct vendor.

J.P. Morgan invests heavily in cybersecurity and fraud protection to keep clients like Wei 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

Contact us to discuss how we can help you experience the full possibility of your wealth.

Please tell us about yourself, and our team will contact you. 

*Required Fields

Contact us to discuss how we can help you experience the full possibility of your wealth.

Please tell us about yourself, and our team will contact you. 

Enter your First Name

> or < are not allowed

Only 40 characters allowed

Enter your Last Name

> or < are not allowed

Only 40 characters allowed

Select your country of residence

Enter valid street address

> or < are not allowed

Only 150 characters allowed

Enter your city

> or < are not allowed

Only 35 characters allowed

Select your state

> or < are not allowed

Enter your ZIP code

Please Enter a valid Zip Code

> or < are not allowed

Only 10 characters allowed

Enter your postal code

Please Enter a valid Zip Code

> or < are not allowed

Only 10 characters allowed

Enter your phone number

Please enter a valid phone number

Tell Us More About You

0/1000

Only 1000 characters allowed

> or < are not allowed

Checkbox is not selected

Your Recent History

Important Information

All case studies are shown for illustrative purposes only, and are hypothetical. Any name referenced is fictional. Information is not a guarantee of future results.

LEARN MORE About Our Firm and Investment Professionals Through FINRA BrokerCheck

 

To learn more about J.P. Morgan’s investment business, including our accounts, products and services, as well as our relationship with you, please review our J.P. Morgan Securities LLC Form CRS and Guide to Investment Services and Brokerage Products

 

JPMorgan Chase Bank, N.A. and its affiliates (collectively "JPMCB") offer investment products, which may include bank-managed accounts and custody, as part of its trust and fiduciary services. Other investment products and services, such as brokerage and advisory accounts, are offered through J.P. Morgan Securities LLC ("JPMS"), a member of FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. JPMCB, JPMS and CIA are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.

 

Please read the Legal Disclaimer for key important J.P. Morgan Private Bank information in conjunction with these pages.

INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, JPMORGAN CHASE BANK, N.A. OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED

Bank deposit products, such as checking, savings and bank lending and related services are offered by JPMorgan Chase Bank, N.A. Member FDIC.

Not a commitment to lend. All extensions of credit are subject to credit approval.

Equal Housing Lender Icon