Chase Bank warns of fake phone, social media scams that can drain your account in minutes

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A customer uses an ATM at a JPMorgan Chase & Co. bank branch in Jersey City, New Jersey, US, on Monday, April 7, 2025. JPMorgan Chase & Co. is scheduled to release earnings figures on April 11. Photographer: Bing Guan/Bloomberg via Ge

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WASHINGTON, D.C. - Chase Bank has issued a new warning about scammers impersonating bank staff and law enforcement in increasingly elaborate schemes to steal customers’ money and personal information.

Bank fraud and scams

What we know:

In one scenario described by Chase, cyber criminals pretend to be branch managers or detectives investigating counterfeit cash. The scammers pressure victims into withdrawing large sums of money or handing it over to "couriers" who claim the cash will be redeposited or verified. 

Once the money is handed over, it’s gone — and scammers often use personal information, like a voided check, to commit additional fraud.

"Caller ID and text messages can be spoofed to look like they’re from your bank," Chase said in its scam advisory. "For your security, hang up and call the number on the back of your card to verify it’s really your bank."

Chase stresses that neither banks nor police will ever ask customers to help in a sting operation, move money to "safe accounts," or provide access to personal banking details.

Social media scams

Chase says nearly half of the scams reported to them originate on social media, making platforms like Facebook Marketplace, Instagram and "Buy & Sell" groups a fraud buffet for scammers.

How they work and how to protect yourself

• Fake listings and ads: Scammers post deals on merchandise, cars, rentals, or services that seem too good to be true. They’ll direct you to spoof websites or insist you pay via Zelle or wire transfer, which offer no purchase protection.
• Requests to pay via Zelle or wire only: Because those methods are immediate and irreversible, scammers often demand you use them. Chase warns that connecting to a social media seller via Zelle is risky — and they may decline such transactions.
• Phony job or rental offers: Scammers pose as landlords or employers, asking for deposits or training fees up front. Once you pay, they vanish.
• Romance or friendship schemes: After building trust, scammers ask for money to cover fake emergencies or "investment opportunities."
• "Upgrade your Zelle account" or "increase your limit" tricks: You may receive a message that you can’t receive a payment unless you pay to upgrade your account or limit. That’s a red flag.

Other scams on the rise

According to Chase, several other major scams are also trending:

• Tech support scams: Criminals pose as computer repair technicians, tricking users into giving remote access to their devices. Once inside, they can steal credentials or transfer funds.
• Check and gift card fraud: Thieves steal checks from mailboxes or use chemicals to alter them. Others demand payment in gift cards, which are nearly impossible to trace once used.
• Charity scams: Fake charities surface after disasters, using emotional stories and realistic-looking websites to steal donations. To find certified charities you can trust, visit the Better Business Bureau's "Give.org" website.
• Investment and "romance" scams: Victims are lured into sending money or cryptocurrency to fake partners or investment opportunities.
• Phishing and spoofing: Scammers use fraudulent calls, texts or emails that look official, tricking people into sharing passwords or personal details.

How to protect yourself

Chase Bank offers the following safety tips:

• Verify the caller: Hang up and call the number on your debit or credit card.
• Slow down: Scammers rely on urgency and emotional pressure.
• Never share online banking passwords, PINs, or one-time codes.
• Be cautious with links in emails or texts — even if they look official.
• Use Chase Online℠ Bill Pay, Zelle®, or other secure channels instead of paper checks.

Report suspicious emails to phishing@chase.com or visit ReportFraud.ftc.gov to notify the Federal Trade Commission.

If you believe your account has been compromised, contact Chase immediately through the number on your card or by visiting a branch.