Consumer complaint received 2023-07-08
Company: AMERICAN EXPRESS COMPANY
State: FL
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Reply from XXXX XXXX XXXX Re : XX/XX/XXXX response from American Express- XXXX XXXX XXXX XXXXXXXX XXXX, you may wish to have someone other than a Customer Advocate be advised of this complaint. 
Each time you have countered my replies to AMEX, you insisted no error was made in your investigation involving the theft of my funds by unauthorized withdrawals. In over twelve years, not one dime has been withdrawn, yet, within weeks, {$250000.00} was removed. Therefore, I would posit : 1. You have not complied with all rules and regulations cited in 15 USC 1693f ; 12 CFR 205.11. 
2. You failed to secure my funds as you stated that not every transfer triggers a fraud concern. Withdrawal of {$250000.00} did not create some type of fraud alert? 
I am uploading the investigation by the XXXX XXXXXXXX XXXX Sheriffs Department validating that your inept, simplified, negligent investigation was no more than a sham. The detailed and more thorough investigation by the Sherriffs major crimes, cyber-crimes, Attorney Generals Office, and Secret Service negate your excuses of no error being made in your investigation. 
Knowing the lawful facts, we can not conclude that American Express Bank ( AMEX ) conducted an adequate investigation. Unauthorized withdrawals were conducted by unauthorized users. AMEX did not attempt to limit the withdrawal of {$100000.00} ( XX/XX/XXXX ) ; {$100000.00} ( XX/XX/XXXX ), and {$50000.00} ( XX/XX/XXXX ). With each of these transactions exceeding the {$10000.00} daily aggregate amount, no Suspicious Activity Report was filed. No communication to this account holder was ever initiated. U.S. law enforcement provides banks with access to resources and tools that can be used to strengthen Bank Secrecy Act ( BSA ) /Anti-Money Laundering ( AML ) risk management programs. 
My funds were removed from AMEX without any recognition of the portent of these stolen funds. You are responsible for this loss. 
1. I would like to see documentation on the extent of the investigation on which you based your findings. It was your duty to offer to share the documents you relied on rather than just a transaction sheet. It is a violation to not produce these documents. Again, the attached investigation by government authorities validates that I did not authorize or conduct these transfers. 
2. Why doesnt every substantial withdrawal trigger a fraud concern? 
3. Why is your logic that you must retrieve funds? Given so many government regulations that Amex did not follow, AMEX gave my funds to unauthorized hackers. The fault lies with American Express. My reimbursement lies with AMEX. 
4. It is also my understanding that if American Express fails to conduct a reasonable investigation or comes to a completely unreasonable conclusion with the evidence they have, I may have a claim against the bank for violations of the Electronic Funds Transfers Act ( EFTA ). Such a claim entitles the consumer to three times their lost damages plus attorney fees.

Company response to consumer: Closed with explanation