Consumer complaint received 2021-10-04
Company: JPMORGAN CHASE & CO.
State: IL
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
I have been scamed through a Person meet in XXXX. He has maintained close acquaintance with me for the past few months and introduced Crypto investing and explained how to share personal stories and investment experiences After that, I started with a small amount and confirmed the return on investment. And after experiencing a small withdrawal, I deposited a larger amount and confirmed that the amount increased, but after that, withdrawal was impossible. They said that withdrawal was only possible by depositing more money to generate more profit.So I deposited more money to withdraw, and after that it was confirmed that all of this was fake and a scam. The scammers said that in order to withdraw money, I have to deposit more money and then make more profit to withdraw, and the broker I met on XXXX said that he could make 100 % of the profit and can help. And I had no choice but to do so. This is because the money already deposited was money I had to pay other than my money. Even then, with a little fear, I deposited a large amount. Because the broker was confident that there would be no loss and forced a larger deposit. I usually have no experience in investing anywhere, no knowledge or even gambling. 
Immediately after remittance, I contacted the bank branch with the intuition that it was a scam, and discussed this fact, but they did not take any action. 

First I would like to mention Scam victims have relatively little freedom of reactivity ; under such circumstances, they respond immediately, instinctively, and invariably to the specific demands of the perpetrator. Being able to consciously refrain from reacting in such a way is extremely difficult and sometimes impossible. Unwittingly giving off signals that mark us as easy targets, is by no means the same as being grossly negligent, in view of the increasingly sophisticated scams, which continue to be a pervasive problem in society. 
Money that I lost is not all my money some of portion were money that I borrowed. So now I am suffering about debt too, I am paying interest only and principal is getting bigger and bigger. 
I am a single mother raising two children alone for 8 years. The children are still XXXX and XXXX XXXX XXXX, and they have a long way to go. Besides, life is getting more and more difficult with the pandemic. I lost everything due to a financial scam last winter, which I had hard-earned while raising two children by myself, and now I am living with debt. Please help me to find a of the money I have saved in my life so that I can return to my happy life with my two children. Giving the fact that I never traded before and the popularity of scams, I am convinced, that the disputed transactions should've raised the bank 's awareness and should've been discussed with me prior to authorising the payments. Despite the fact that this was an unusual transaction the bank didn't even bother calling to ask or try to understand where my money was going. I will also mention here in the 3 Anti-Money Laundering Requirements for Financial Institutions and Other Designated Businesses 3.1 What financial institutions and other businesses are subject to anti-money laundering requirements? Describe which professional activities are subject to such requirements and the obligations of the financial institutions and other businesses. The following are subject to the requirement to maintain risk based XXXX XXXX : Banks, including savings associations, trust companies, credit unions, branches and subsidiaries of foreign banks in the United States, and Edge corporations. Broker-dealers in securities. Mutual funds. XXXX XXXX XXXX and XXXX XXXX XXXX  XXXX. Money Services Businesses

Company response to consumer: Closed with explanation