Consumer complaint received 2022-04-28
Company: JPMORGAN CHASE & CO.
State: FL
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Fraud or scam

Complaint:
I received a call at XXXX XXXX on XX/XX/XXXX and the caller ID said Chase Business . I answered the phone and he said he was with Chase business fraud and there was suspicious activity on my account ending in XXXX ( my business card ) that afternoon on XX/XX/XXXX. I have received a similar call from Chase business fraud two or three times in the last few years about suspicious charges and the other calls were legitimate, and those other calls were also Chase Bank checking on suspicious activity. 

So when I got this call on XX/XX/XXXX I immediately assumed it was like the other calls I have received. The guy sounded exactly like a Chase employee and talked me through several transactions in XXXX XXXX, Texas which I explained were definitely not me, so they must've been fraudulent. He explained that they had been denied so I would not see the charges. 

He then told me also that the same scammers had attempted to move {$5000.00} out of my business account using XXXX. I explained that I have never heard of XXXX and I have never used XXXX before. He said it is in your Chase account and it's in every Chase account. I told him I don't think it is in mine - I have never seen it. He then said please allow me to show you exactly where it is XXXX XXXX. 

He then asked if I was mobile or desktop to access my Chase account and I explained I was desktop. He told me exactly where to click to get to XXXX and he knew the interface as well as any Chase employee. He was very friendly and very professional. He then told me the {$5000.00} was not gone and I would not lose it, but that it was in an escrow account and we were simply going to move it from the escrow account back to my account and it would take less than a minute. 

He then said just so you know this is totally safe and you are NOT going to lose this money. We are just going to enter your name and your phone number in XXXX, and that's how you know this money is coming directly back to you. 

I did not give him ANY information -- none at all -- and I did not enter any foreign names or foreign phone numbers in my Chase account. I entered only my name and my cell phone number in XXXX and that's it. When I was in my XXXX account he did ask for one code that came to my cell phone and he said that was required to confirm the transaction and I gave him the code.

Otherwise I did not give out any information at all -- personal or otherwise -- nothing. The whole process was done in less than three minutes. When I hung up the phone I went to my personal account and was looking at a few things then I went back to my business account and I saw a - {$5000.00} paid to XXXX XXXX by XXXX. 

So this confused me and I called Chase immediately - within 1 minute -- and they finally after a few minutes explained it was a scam. At no time did I receive a text warning from Chase or an email from Chase saying " Hey are you sure you want to transfer {$5000.00}????? ". The caller was very professional and sounded it exactly like a Chase employee. I told Chase there is a clear security hole in their process or in their account interface. I was very angry, as I did NOT WANT XXXX in my account! 

Chase flatly denied my request for refund of the {$5000.00}, even though I reported this within ONE MINUTE of it happening! 

They told me the day that it happened they would be contacting XXXX and XXXX  XXXX XXXX to try and recover the funds. I called every day, and three days later I was told " We'll attempt to contact XXXX and XXXX  XXXX XXXX ... '' I said WHAT!! - you haven't already??? This was Monday evening 3 days ago this happened, and you have not contacted them yet?? " Sir, your claim is in process. '' This whole thing is terrible, and Chase is shameful.

Company response to consumer: Closed with explanation