Consumer complaint received 2021-01-13
Company: CITIBANK, N.A.
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I am the victim of a scam. The scammers contacted me on night of XX/XX/20 via text, under the pretense of a " XXXX XXXX jobs. On the morning of XX/XX/20, I was awaken by a call, telling me I had a package delivered. They'd sent a check via XXXX  for {$3100.00}, funds that were supposed to be used for equipment in the setting up of this " office ''. They seem very knowledgeable of the Banks that release ALL THE FUNDS, even though its not cleared, because they specifically asked about my bank to see if its a bank that they 'worked with '. Immediately after depositing the check around midday, whatever funds that were made available, they started disbursing to various people. These transactions were done through Citibank, and XXXX. The people receiving the funds were referred to as 'merchants, ' and I was told that to cooperate with sending money to them, because it was for the purchasing and distribution of the 'office equipment ', which was to include furniture, the computer etc. This is noted, in all my transactions as the reason for me sending the funds. Within 24 hours of me depositing the check, literally by the next day, Citibank RELEASED ALL the funds, and which time there was considerable haste to disburse whatever funds was left. In hind sight of course, it all makes sense. Nevertheless, it didn't matter to me, I just wanted to be done with all this banking transactions, because I wasn't comfortable with it, and I had far too many questions that were not answered to my likeness. I was actually in agreement with the haste they were making, because I felt confident that the funds were good and it was theirs, because Citibank had released all of it in such a short time. They continued asked for me to contribute a further {$500.00}, and at that time I was done, I told them 'no ' and not to contact anymore because I no longer had money for them. Around XXXX on the morning of XX/XX/20, the check bounced, putting my account in overdraft. I immediately called Citibank, in tears and reported that the check was fraudulent and all transactions associated with it. I explained everything that had happened in even more detail that this letter, I have also recently reported it to the police department in my area and I am currently working with a detective. This is obviously very hard for me, because like millions of other people, I am unemployed. Citibank has credited my only {$1100.00} so far, from what they recovered, but sent me a letter stating that they have 'completed their research ', on the {$2000.00} that remains outstanding. It basically states they are unable to assist further, with unless the banking institutions of the recipients, recover the money. Citibank has blame in this as well, I trusted my bank, I would've never done what I did, had those funds not been released. And whilst I know that they do make some funds available in the interim, as a courtesy to customers, I have never been privy to funds being released so quickly.

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