Consumer complaint received 2021-05-26
Company: JPMORGAN CHASE & CO.
State: AZ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
I have been a customer of Chase bank for many years. Recently, I was subjected to an elaborate identity theft and wire fraud situation that turned my life upside down. Immediately upon learning that my escrow account was not held by the right party, I contacted Chase within the same day to explore my options and process a recall to give me the BEST chance to recover my funds before being liquidated. I talked to three different individuals, my husband called too, and was not serviced. We were shuffled between departments and instead of processing a courtesy SWIFT wire recall, we were told youll get your money back. Call back tomorrow. Right at opening time the following day, I called Chase and was sent to the claims department. After telling them what happened, they sent me to the wire department. The wire department listened to my situation and told me no, you need to process a claim and go to the claims department. Again, a SWIFT recall still had not been submitted to give me the best chance at getting my money back. After being transferred to claims again, I completed a claim as instructed, but it still didnt fit my particular issue. I took it upon myself to call Chase back again and try to get to the wire department. I finally got an individual who said they will just now process a SWIFT recall ; almost a full day after I called the first time. He told me then, Id receive my funds back because typically it takes 1 processing day for the recipient bank to process wires. A few hours later, I call Chase for a status update and talked to several supervisors to understand why I am being told different things by XXXX associates, asked to go through different processes, and ultimately, why wasnt a SWIFT recall processed the first time I called, when it had only been several hours since the issue and Id have the best chance of regrouping my funds. The Account Supervisor, XXXX, first lied and said they did process a SWIFT recall yesterday. I corrected her that they had not, and it had only happened today, when I called in the 6th time. She says Oh, well I see they tried to press the cancel button, same thing ( its not ), but it wouldnt matter if we even did the recall yesterday or not. I am absolutely appalled by the careless attitude. Every single minute counts when you are moving against internet fraud. If the recall would have been processed yesterday, I would have had a full day to get ahead of the funds being liquidated into an anonymous currency and strengthened the likelihood that my funds would returned. 
Chase sent me to several different departments all reassuring Id recoup my funds when in reality the proper protocol would have been to immediately request a SWIFT reversal since I contacted them with hours of the erroneous transactions. I am now out of my life savings and chase says it wouldnt have mattered if the would have processed it when I called. Their lack of care and urgency and incorrect information has put me and my family at a significant disadvantage and I am forever scarred.

Company response to consumer: Closed with explanation