JPMorgan Chase and Bank of America are defending their fraud prevention systems after a 76 year-old man lost his life savings of $800,000.
Washington resident Bogdan Nalivaiko sold his home and placed nearly a million dollars in the bank when he was targeted by scammers, reports Fox 13 Seattle.
According to Nalivaiko’s daughter, Julia Elders, the criminals claimed Nalivaiko had won $17 million dollars, but in order to receive the money he would have to pay taxes on the winnings first.
In a matter of weeks, Nalivaiko had transferred tens of thousands of dollars at a time out of both Chase and BofA.
According to Elders, the banks raised no red flags and should have noticed something suspicious was at hand.
“They should have flagged this. And then they said, once I called them, ‘we did everything we could.’”
Elders, who lives far from her father in Minnesota, says she didn’t find out about the situation until her father was essentially homeless.
Despite stealing hundreds of thousands of dollars from Nalivaiko, the scammers aren’t through harassing him and continue to demand that he send more money over.
Elders has set up a GoFundMe campaign to help her dad get back on his feet.
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