Consumer complaint received 2023-02-08
Company: JPMORGAN CHASE & CO.
State: IL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
I reported fraudulent activities on XXXX of my business accounts where there was an unauthorized wire transfer of XXXX and XXXX within minutes of each other.. I was involved in an elaborate fraud scheme where my phofor XXXX and XXXX. XXXX and XXXX was compromised and controlled by a separate entity. The incident began when I realized my XXXX XXXX account was compromised. Instructed by my company I googled the phone number for XXXX fraud and support. ( XXXX ) XXXX. Calling this line I reported the issue and was informed that my XXXX was hacked. They requested control of my XXXX account and accessed my phone. They informed me that all of the apps that I had on my phone have been compromised and began to show me. The recognized XXXX entities that had access. They then began to show me by running small transactions on paypall and cash app and then having the money denied and refunded. This continued for a day and on XX/XX/XXXX they processed XXXX wire transaction out of XXXX business accounts in the amounts of XXXX and XXXX. I was not asked and when I saw the transaction I asked for an immediate reversal. They responded with it will be returned with XXXX hours. I stated I was going to call the bank immediately and they responded that if I did the bank would freeze our assets for XXXX days and with it being all of our money we wouldnt be able to run payroll. I spoke to them on and off over the next XXXX hours and decided to call Chase Bank to report the situation. A claim was opened, accounts were frozen and I was instructed to go into a branch the next day to open an new account. I called XXXX branches in XXXXXXXX XXXX XXXX XXXX into see a banker and was turned away for what would be a week. I contacted a Chase bank XXXX mins away in XXXX XXXX and a banker named XXXX said she would fit me in at the end of her day because this was important. I was told that we would receive some emergency funds to help us get through so immediate needs such as payroll within XXXX  days from XXXX. By XXXX  of the following week I had heard nothing and there was no funds in either account as promised. I called Chase and was informed that my claim was denied. I asked for an explanation and was told that the wire came from a known XXXX  and device. I asked why didn't the bank confirm the transaction since it was irregular activity and in a large amount in which we have never transacted before. Again the response was that it was a known device. I asked for an appeal and was transferred around to XXXX different people at Chase and was brushed off with no clarity or compassion. My understanding is that if there are large irregular transactions some safegurads such as confirming with a phone call and a verbal password or proof of identity should be sought by the Bank. My personal accounts at XXXX bank do exactly that. I will get a phone call asking if I have made certain transactions if there are unusual activities. Chase did not keep my or my business accounts safe. The reason for their existence is for that very thing to keep me safe from fraudulent activity. Not to mention being promised on XXXX  XXXX  that emergency funds would be provided and then nothing was done. I understand that I was involved in an elaborate scheme in which I was victimized. I also believe that Chase has a responsibility in keeping me safe with large denomination transactions that are clearly classified as unusual activity and highly suspicious.

Company response to consumer: Closed with explanation