ID Theft Victim’s Case v. JPMorgan Is Dismissed

After the name and identify of a JPMorgan Chase customer got dragged into a fraud and money laundering scheme perpetrated by three of the bank’s employees, the result for the customer was a classic ID theft nightmare. She was indicted, then cleared. Incorrect information about her was reported to ChexSystems and Early Warning Systems, JPMorgan itself cancelled a custodial account she held for her child, and HSBC bank closed another of her accounts. The woman sued the bank for $10 million in damages, alleging it was liable for identity theft and aiding and abetting identity theft under New York state law. JPMorgan Chase made a simple argument in its defense, and the judge agreed with it.