JPMorgan Warns $20 Billion Internet Crime Losses Fueled Bank Scams in 2025

1 articles · Updated · Fox News · Jun 24

$20 billion in reported internet-crime losses and $3.5 billion in impostor-scam losses in 2025 prompted JPMorgan fraud chief Darius Kingsley to warn that many bank scams begin with urgent phone calls posing as police or other authorities.
Kingsley said scammers often coach victims before they reach a branch, telling them what to say about a withdrawal and sometimes claiming the bank itself is involved, making teller intervention harder.
Bank staff are trained to probe unusual transactions by watching for callers staying on the phone, visible nervousness and stories that unravel — often the last chance to stop a wire, cash withdrawal or transfer.
He said larger operations now include organized scam compounds in Southeast Asia that move stolen funds quickly through accounts and overseas, which is why victims should contact their bank immediately and file reports with police and the FBI's IC3.