How to recognize fake Chase processing transfer emails

What kind of email is "Chase - Transfer Is Processing And Will Be Deducted"?

Our inspection of the "Chase - Transfer Is Processing And Will Be Deducted" email revealed that it is fake. This spam notification informs the recipient that their transfer is processing and will be deducted soon. This mail aims to trick them into visiting a phishing site that targets their Chase account log-in credentials.

It must be stressed that the information in this message is false, and this email is in no way associated with the real JPMorgan Chase Bank, N.A.

"Chase - Transfer Is Processing And Will Be Deducted" email scam overview

The spam email with the subject "You have a new secured message" (may vary) notifies the recipient that their direct transfer demand is being processed and will be deducted from the account in the following business day. The message details that the pending payment is 350 USD. If the recipient does not recognize this activity, they can cancel it within the next 24 hours.

It must be emphasized that the claims made by this email are false, and this mail is not associated with the actual JPMorgan Chase Bank, N.A.

When the recipient attempts to cancel the supposed transfer, they are lured into visiting a phishing site. At the time of research, the promoted website was down. However, this could be fixed in potential future releases of the spam campaign (i.e., emails will redirect to a functional webpage).

Based on our experience, the promoted site was likely a fake Chase bank account sign-in page. Log-in credentials (or other data) entered into phishing websites are recorded and sent to scammers. Thus, trying to sign in through such a webpage can result in cyber criminals stealing the exposed account.

Hijacked finance-related accounts (e.g., online banking, money transferring, digital wallets, etc.) can be used to make fraudulent transactions or online purchases.

To summarize, victims of scam mail like "Chase - Transfer Is Processing And Will Be Deducted" can experience severe privacy issues and financial losses.

If you have already entered your credentials into a phishing website or file – immediately change the passwords of all possibly compromised accounts and inform their official support. However, it might also be necessary to contact the appropriate authorities.

Phishing spam campaign examples

We have examined countless phishing emails; "Wells Fargo - Account Suspended", "Chase - Refund Process", "Notification Summary", "Two-Factor Authentication Activation", and "Bank Details" are merely some of our newest articles.

In addition to log-in credentials, these letters often target personally identifiable details and finance-related data. However, various scams are promoted through spam mail. It is also utilized in malware distribution (e.g., trojans, ransomware, cryptocurrency miners, etc.).

While the widely held belief that these emails are poorly written and riddled with mistakes is not untrue, it is not always the case. This mail can be competently put together and even believably disguised as messages from genuine entities (e.g., companies, service providers, organizations, institutions, authorities, etc.).

How do spam campaigns infect computers?

Malware is commonly proliferated via spam campaigns. These emails/messages contain infectious files as attachments or download links. Virulent files can be documents (Microsoft Office, Microsoft OneNote, PDF, etc.), archives (ZIP, RAR, etc.), executables (.exe, .run, etc.), JavaScript, and so on.

Merely opening a malicious file can be enough to initiate the infection chain. However, some formats need additional interaction to begin malware download/installation processes. For example, Microsoft Office files require users to enable macro commands (i.e., editing/content), while OneNote documents need them to click embedded links or files.

How to avoid installation of malware?

We strongly advise vigilance with incoming emails and other messages. Attachments or links present in suspicious mail must not be opened, as they can be harmful or infectious.

It must be mentioned that malware is distributed using various techniques. Therefore, we recommend being careful while browsing since the Internet is full of deceptive and malicious content.

Additionally, all downloads must be performed from official and trustworthy sources. Another recommendation is to activate and update programs using functions/tools provided by legitimate developers, as illegal product activation ("cracking") tools and third-party updates may contain malware.

It is paramount to have a dependable anti-virus installed and kept up-to-date. Security software must be used to run regular system scans and to remove detected threats and issues. If you've already opened malicious attachments, we recommend running a scan with Combo Cleaner Antivirus for Windows to automatically eliminate infiltrated malware.

Text presented in the "Chase - Transfer Is Processing And Will Be Deducted" spam email letter:

Subject: You have a new secured message

Monthly Service Fee | ATM fees

View Online | Email Security Information

Chase Logo

Dear customer, Your direct demand transfer is processing and will be deducted from your account in the next business day. The following transaction will reflect on your transaction history once deducted.

Payment details:

Amount: $350.00 (USD)
Memo:
Cut off time: 12am of the next business day

If this transfer wasn't requested by you tap on the link below to verify and stop this and any intermittent transfer scheduled before the next 24 hours.

STOP AND VERIFY

Warning: Ignoring or giving wrong details means you are not the rightful owner of this account and
we are going to terminate the account if such activity is detected.

Thank you for being a Chase Customer and we look forward to serve all your financial needs.

Sincerely,

Chase Online Service

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Quick menu:

• What is "Chase - Transfer Is Processing And Will Be Deducted" phishing email?
• Types of malicious emails.
• How to spot a malicious email?
• What to do if you fell for an email scam?

Types of malicious emails:

Phishing Emails

Most commonly, cybercriminals use deceptive emails to trick Internet users into giving away their sensitive private information, for example, login information for various online services, email accounts, or online banking information.

Such attacks are called phishing. In a phishing attack, cybercriminals usually send an email message with some popular service logo (for example, Microsoft, DHL, Amazon, Netflix), create urgency (wrong shipping address, expired password, etc.), and place a link which they hope their potential victims will click on.

After clicking the link presented in such email message, victims are redirected to a fake website that looks identical or extremely similar to the original one. Victims are then asked to enter their password, credit card details, or some other information that gets stolen by cybercriminals.

Emails with Malicious Attachments

Another popular attack vector is email spam with malicious attachments that infect users' computers with malware. Malicious attachments usually carry trojans that are capable of stealing passwords, banking information, and other sensitive information.

In such attacks, cybercriminals' main goal is to trick their potential victims into opening an infected email attachment. To achieve this goal, email messages usually talk about recently received invoices, faxes, or voice messages.

If a potential victim falls for the lure and opens the attachment, their computers get infected, and cybercriminals can collect a lot of sensitive information.

While it's a more complicated method to steal personal information (spam filters and antivirus programs usually detect such attempts), if successful, cybercriminals can get a much wider array of data and can collect information for a long period of time.

Sextortion Emails

This is a type of phishing. In this case, users receive an email claiming that a cybercriminal could access the webcam of the potential victim and has a video recording of one's masturbation.

To get rid of the video, victims are asked to pay a ransom (usually using Bitcoin or another cryptocurrency). Nevertheless, all of these claims are false - users who receive such emails should ignore and delete them.

How to spot a malicious email?

While cyber criminals try to make their lure emails look trustworthy, here are some things that you should look for when trying to spot a phishing email:

• Check the sender's ("from") email address: Hover your mouse over the "from" address and check if it's legitimate. For example, if you received an email from Microsoft, be sure to check if the email address is @microsoft.com and not something suspicious like @m1crosoft.com, @microsfot.com, @account-security-noreply.com, etc.
• Check for generic greetings: If the greeting in the email is "Dear user", "Dear @youremail.com", "Dear valued customer", this should raise suspiciousness. Most commonly, companies call you by your name. Lack of this information could signal a phishing attempt.
• Check the links in the email: Hover your mouse over the link presented in the email, if the link that appears seems suspicious, don't click it. For example, if you received an email from Microsoft and the link in the email shows that it will go to firebasestorage.googleapis.com/v0... you shouldn't trust it. It's best not to click any links in the emails but to visit the company website that sent you the email in the first place.
• Don't blindly trust email attachments: Most commonly, legitimate companies will ask you to log in to their website and to view any documents there; if you received an email with an attachment, it's a good idea to scan it with an antivirus application. Infected email attachments are a common attack vector used by cybercriminals.

To minimise the risk of opening phishing and malicious emails we recommend using Combo Cleaner Antivirus for Windows. 

Example of a spam email:

What to do if you fell for an email scam?

• If you clicked on a link in a phishing email and entered your password - be sure to change your password as soon as possible. Usually, cybercriminals collect stolen credentials and then sell them to other groups that use them for malicious purposes. If you change your password in a timely manner, there's a chance that criminals won't have enough time to do any damage.
• If you entered your credit card information - contact your bank as soon as possible and explain the situation. There's a good chance that you will need to cancel your compromised credit card and get a new one.
• If you see any signs of identity theft - you should immediately contact the Federal Trade Commission. This institution will collect information about your situation and create a personal recovery plan.
• If you opened a malicious attachment - your computer is probably infected, you should scan it with a reputable antivirus application. For this purpose, we recommend using  Combo Cleaner Antivirus for Windows.
• Help other Internet users - report phishing emails to Anti-Phishing Working Group, FBI’s Internet Crime Complaint Center, National Fraud Information Center and U.S. Department of Justice.

Frequently Asked Questions (FAQ)

Why did I receive this email?

Emails are not personal, even if they include information relevant to the recipients. These messages are distributed in large-scale campaigns – therefore, thousands of users receive identical (or incredibly similar) emails.

I have provided my personal information when tricked by this spam email, what should I do?

If you have provided your log-in credentials – change the passwords of all potentially exposed accounts and inform their official support without delay. However, if you have disclosed information of a different personal nature (e.g., ID card details, passport photos/scans, credit card numbers, etc.) – immediately contact the appropriate authorities.

I have read a spam email but didn't open the attachment, is my computer infected?

Merely reading an email does not pose an infection threat; systems are compromised when malicious attachments or links are opened/clicked.

I have downloaded and opened a file attached to a spam email, is my computer infected?

Whether the device was infected might depend on the opened file's format. Once opened, executables cause infections almost without fail. However, some formats – like documents – may need additional interaction. Hence, malware download/installation is triggered after macro commands are enabled, embedded content is clicked, or other actions are performed.

Will Combo Cleaner remove malware infections present in email attachments?

Combo Cleaner is designed to scan systems and remove all kinds of threats. It can detect and eliminate most of the known malware infections. Keep in mind that sophisticated malicious software tends to hide deep within systems – therefore, running a full system scan is essential.