Consumer complaint received 2022-01-21
Company: JPMORGAN CHASE & CO.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
On XX/XX/2021, two not initiated by me, unauthorized, fraudulent transactions occurred against my personal household Chase account ending in XXXX. The first transaction was a transfer out for {$1000.00} and the second one was a transfer out for {$34000.00}. 

On XX/XX/2021, when I looked at my Chase account, I realized that 2 un-authorized, not-initiated by me transactions were pending and attempted to stop the pending transactions by calling the Chase fraud department . After an hour on various holds I was informed that the Fraud department was closed and do not provide fraud services after normal business hours. Due to this lack of fraud support services I was unable to speak with anyone about it that evening. The next morning on XX/XX/2021, I went into a local Chase branch and asked them to stop the pending transactions. They instructed me they couldnt and that the funds would be returned to me after I submitted a fraud claim which has since been denied. Chase Fraud XXXX # XXXX. Inquiry date on claim XX/XX/2021. I was never contacted about the claim was denied and the communication was initiated by me to get a status on the claim by going into the branch office. 
As part of this fraudulent transaction, the funds from Chase were converted to a XXXX purchase within my XXXX account which was also compromised. Part of that compromise was the withdrawal of the 34,000 & 1,000 funds from Chase. I also contacted XXXX, submitted a fraud case with them and locked the XXXX XXXX account to lock out the bad actors. Since the account is locked I can no longer see activity but XXXX has indicated that there is a balance and that they would work with Chase and any of the authorities. 
I filed a police report outlining the fraudulent activity. Chase has indicated they have read the police report in XXXX calls with them and that their decision was pending the police report. This was conveyed to me during one call which I initiated because I did not hear anything from them about the claim. 
Police Report # XXXX filed XXXX XXXX, Florida Chase ultimately denied the claim and claims no responsibility to work with XXXX to securely retrieve the funds ( what is there & recoverable ) and they are refusing to reimburse me for the fraudulent transactions of {$1000.00} and {$34000.00}. 
I did not initiate these un-authorized transactions and did not benefit from this activity. 
I would have thought Chases fraud department would catch something like this as this was not my normal pattern of behavior and the amounts should have raised red flags. I have had that account open for over twenty years and never transferred that type of money out of Chase. Additionally, both transactions were done out of state. This should have been easily flagged and the fraudulent activity adverted. I was not notified by their alerting system, I have accounts alerts starting at XXXX, nor was I contacted by Chase to confirm these transactions prior to their execution of these large and out of the norm transactions.

I am asking to be made whole for the fraudulent transfers out of {$1000.00} and {$34000.00} and for Chase to do their own recovery process in conjunction with XXXX as a fraud crime did occur. Chase is saying it was not fraudulent and that they are not responsible for the funds they let out of my account without my consent.

I do not understand how Chase who has a vested interest to not acknowledge fraud now has the ultimate authority to determine that it was not fraud and has denied my claim twice. Clearly this was fraud. Chase has acknowledged that they have reviewed the police report during my conversations with them. The police report clearly indicated that it was fraud based upon their review of the activity and their subsequent investigation. Additionally, XXXX acknowledged based upon their review of the un-authorized activity that it was fraud based upon their research. Most importantly I the account holder have indicated that these transactions were fraudulent, un-authorized, not initiated by me and clearly of no benefit to me. How can Chase deny the claim? The account is personal & covered by the Federal Laws : The Electronic Fund Transfer Act & Regulation E of Federal Reserve Board for bank accounts for personal, family or household purposes.

Company response to consumer: Closed with explanation