Customer Loses Life Savings in Cryptocurrency Scam
In a distressing incident, 76-year-old Kosmo Alexandrou from New Jersey was defrauded of his $142,500 life savings. Scammers, posing as bank representatives, convinced him to transfer his funds into a cryptocurrency account under the pretense of protecting his assets. After realizing the fraud, Alexandrou reported the incident to Chase Bank, which initially denied his claims, stating the transfer was authorized. This case underscores the importance of banks implementing robust safeguards and promptly addressing fraudulent activities.
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