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I can imagine JP Morgan will update their due diligence procedure after this. I'm surprised this hasn't happened more in the past, actually.

• haskellandchill 4y ago
  The fraud was pretty thorough, they paid a data scientist $20k to falsify data and paid another business $100k for their list. They also performed third party validation on it as a test. It was only upon Chase marketing to the full list that the statistics became apparent. Random sampling may not have been enough.