Customers at JPMorgan Chase, Bank of America and Wells Fargo say the banks have refused to reimburse after bad actors ripped cash from their accounts.

A Wells Fargo customer for nearly four decades says the lender refused to make him whole after scammers drained $20,000 from his account.

Scott Merovitch says he received a call from someone claiming to work at the bank, warning his account was flashing suspicious activity, reports FOX 26 Houston.

According to Merovitch, the caller was able to provide information about his recent transactions.

After the call, a woman pretending to work at Wells Fargo showed up at Merovitch’s front door, asked for his card and cut it into pieces.

Two hours later, Merovitch says $20,000 exited his account at ATM locations just a few miles from his residence.

When he filed for a reimbursement claim, Merovitch says the lender issued a letter telling him that the transactions were made by him or someone who had his permission.

Meanwhile, JPMorgan Chase is refusing to reimburse a man scammed by a fake Apple support text, reports the CBS-affiliated news station KOLD.

The phishing text, posing as Apple’s billing department, claimed unauthorized activity was underway.

The victim says he quickly called the number, and the scammer likely installed malware on his iPhone to tap into his bank account.

Chase says reimbursement is not happening.

“After further review, our claim denial stands as we found these transactions were authorized by the customer with no evidence of fraudulent account takeover or of a compromised device.”

Lastly, Bank of America refused to reimburse a customer who lost $450 to a taxi scam in Panama.

Keith Lee says he was charged $450 for a $10 cab ride, according to the Elliott Report.

The driver claimed Lee’s card didn’t process, so he paid cash.

Bank of America denied his dispute, saying a chip-verified “card-present” transaction was executed.

Consumer advocate Christopher Elliott then stepped in, contacting BofA on Lee’s behalf.

After hearing from Elliott, Bank of America finally reversed the charge. Elliott says the bank acknowledged such taxi scams are well-known.

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Financial services giant JPMorgan Chase is reportedly looking to tokenize carbon credits with a trio of companies for a trial run.

According to a new report from Bloomberg, Kinexys, a blockhain arm JPMorgan, is teaming up with S&P Global Commodity Insights, EcoRegistry, and the International Carbon Registry to test a protocol that would tokenize credits listed in registries overseen by the firms.

The report says that Kinexys is exploring whether blockchain technology can be applied to regular activities.

In a statement, JPMorgan said that the tokenization of carbon credits could address current issues within carbon markets, such as market fragmentation, a lack of standardization, and transparency problems.

The bank went on to say that a system that would let credits be easily transferred between buyers and sellers could address these issues.

Carbon credits are permits that allow those who hold them to emit one ton of greenhouse gases and are intended to incentivize the reduction of emissions, such as carbon dioxide. They can be bought and sold through non-governmental voluntary markets.

In a previous report, JPMorgan said that the carbon asset class is “poised to mature as market infrastructure strengthens and innovation continues.” However, the bank also noted that if market infrastructure and innovation falter, so could trust and demand.

As stated by Alastair Northway, head of the natural resource advisory at JPMorgan Payments,

“Tokenization could support development of a globally interoperable system that adds confidence into the integrity of the underlying infrastructure. This technology could support greater information and price transparency, which could ultimately lead to greater liquidity in the market.”

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An employee at a $23.8 billion bank embezzled $44,000 worth of customer money before getting slapped with an industry ban.

The Federal Reserve says former Bank of Hawaii employee Alohi Kaupu-Grace, 23, stole from customer accounts and falsified the customers’ signatures on cash withdrawal slips and cashier’s check purchase slips.

Kaupu-Grace paid $5,200 in partial restitution to the bank and was fired in March. The Hawaii resident consented to an order from the Federal Reserve Board of Governors banning her from working for any of the Fed’s insured depository institutions.

The ban will stay in place indefinitely unless the Board of Governors rescinds it, and the order doesn’t prohibit any other Federal or state agency or department from taking action against Kaupu-Grace.

In May, Hawaii Island police arrested Kaupu-Grace for allegedly using someone else’s credit card.

A victim contacted police after receiving a text from his credit card company about a fraudulent charge made to his account. The police say they tracked the credit card usage back to Kaupu-Grace, who allegedly secured the victim’s confidential information while working at Bank of Hawaii.

She was charged with second-degree theft, second-degree identity theft, unauthorized possession of personal confidential information and fraudulent use of a credit card.

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