The $100K gift cards are only available for $100 in cash to employees and employees of Chase, which has become a magnet for fraudsters and credit card thieves who target customers, according to a federal banking inspector general report.
The $300K gift card is available to all Chase customers who want to make a $300 gift card, but only to employees, the report said.
The report also found that employees of the Chase branch in Philadelphia, where the bank operates its branches, were able to access $200,000 in gift cards.
The branch was raided and the investigation ended in May.
The bank has since changed its policy.
In May, it changed the login page for its $300k gift card to allow employees to make $100 gift cards, but not to make other gifts.
Chase’s $300M gift card redemption rate declined from 80% in February to 74% in June.
The FBI said in a statement to ABC News that its findings underscore the importance of making it clear to consumers that their personal information will be protected, and that employees should not have access to the account number, bank account number or account balance information of their co-workers.
The report also noted that the bank has not changed the security measures to protect against credit card fraud.
The agency said it has “taken steps to ensure that all customers have the ability to access their accounts using a PIN and password combination, and have access only to accounts that they have authorized access to with a PIN.”
A Chase spokesman said in an email that the company “has been actively engaging with the banking industry and regulatory agencies to improve its security posture to deter the exploitation of customer information, particularly when it comes to credit card data.”
He also said the bank is “working with the Office of the Inspector General and other stakeholders to improve the way our payment card information is stored and secured.”