Consumer complaint received 2023-10-16
Company: REGIONS FINANCIAL CORPORATION
State: TX
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Fraud or scam

Complaint:
I was contacted by a team of scammers that over the span of 9 days for hours a day convinced me my accounts were compromised and I needed to wire money to a secure encrypted account through the US Embassy in XXXX XXXX. I have already filed police reports and an IC3.gov. I have also filed a police report in XXXX XXXX. I have been advised the money is gone. My real issue is with the bank, Regions Bank that i feel did nothing to protect me against elder abuse. 

On XX/XX/, I went into the XXXX XXXX location, spoke with management, XXXX and asked for a wire to XXXX of all places in the amount of {$48000.00}. XXXX did ask what the wire was for and the reason for it. On the wire itself it appears to be stamped helping a family friend. I know no one in XXXX let alone XXXX and I was coached for hours to say these things. I have banked with Regions since moving to Texas and has never withdrew amounts like that. And although I am the only person listed on the account on XX/XX/ it is my belief Regions had not only a fiduciary, ethical, but above all else a moral responsibility to represent the interest of their customer, me. It is my opinion that boxes were checked and Regions moved on. They did the bare minimum and wrote it off. 

On XX/XX/XXXX XXXX XXXX  I entered the XXXX XXXX and wired another another {$140000.00} to XXXX. There is a pattern developing. A customer who has banked with Regions is now wiring large sums of money one would say clearing her account and it happens again after a basic set of pre prompted questions are raised with little to no depth in the responses. This wire was stamped with business start up. There are now two different responses in the span of 3 days, that should be a red flag to someone. I am not sure how many customers Regions has that takes the bulk of their account, wires it to XXXX for a business start up at XXXX  years of age? This shouldnt be a red flag this should be I need to step in. By the time the XXXX is observed its too late. Further the amounts are increased well over double. 

On XX/XX/, I entered the XXXX branch and attempted to wire {$240000.00}. The manager fearing a scam asked for documentation which I didnt have. I left and returned to the XXXX XXXX location and withdrew {$240000.00}. XXXX asked whatever questions he asked and the wire was sent. I know XXXX asked questions. I learned of this on Saturday XX/XX/ and took immediate action. But the manager at the XXXX location did nothing to alert other branches which Im under the impression is their policy. My son also has this recorded with the bank. 

I spent the morning with my son at the branch with XXXX on XX/XX/. My son simply asked what steps Regions was going to take to make this right. The response I received was in part I did my job at the end of the day the money is yours. I stated the banking community needs to do something on a national level to which XXXX agreed. I dont hold XXXX solely liable I hold Regions liable because obviously this happened at two branches. XXXX told me how well coached I was and that he teaches classes on this subject. Full disclosure this conversation was recorded for record keeping purposes. I dont know how a XXXX XXXX XXXX, XXXXXXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX  when she doesnt get that cup of morning coffee became a deceptive, lying telling lady capable of deceiving XXXX grown men one of which had a former career in corrections. 

This is not an attack on XXXX, nor the manager at the XXXX XXXX. But this is notification that it is my belief that Regions failed their customer on three separate occasions. I was victimized, picked at random and her banking institution asked a few standard questions and off the life savings went. If we only check boxes how can we ever expect to get better, learn, grow. Asking standardized questions result in standardized results. I believe if we subpoenaed footage from the three wires we would see very little to protect my interests. 


My son had asked for the policies on elder abuse identification, fraud, wire scams, etc. they have not turned them over.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation