Consumer complaint received 2022-09-19
Company: JPMORGAN CHASE & CO.
State: NJ
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Fraud or scam

Complaint:
I was contacted on XXXX XXXX on XX/XX/22 for a buyer interested in a product I was selling. The buyer offered to purchase and pay thru XXXX. The product was on sell for {$85.00} but the buyer offered to pay {$100.00} for added stress. He asked me for my email address, and proceeded to allegedly send me {$100.00}. I then received an email stating the {$100.00} was pending as my account has limited access and hence not a business account so the transfer can not be initiated. Buyer was " required '' to send an additional {$100.00} to my XXXX so my account can be upgraded and changed to a business account. Then {$200.00} will be credited into my account effectively once the additional payment is made. 

I then received another email from " XXXX '' stating I received an additional {$100.00} to upgrade my account and {$200.00} needs to be fully credited effectively into my account. It then stated additional instructions needed to finalize my account. The steps included : - Ask sender for XXXX information to refund - Add the XXXX information to my account - Send the sum of {$100.00} to the given information - You are required to send us clear proof ( SCREENSHOT OR PICTURE '' that the payment has been sent to the given information Bottom of email stated : " XXXX : is requesting protection and after to secure the additional payment your last payment issuer had send for the upgrage. Therefore, ask Issuer for the XXXX information to refund and secure the additional payment issuer had to send to upgrade your account. 

Note : This transaction has been secured with our highest form of authority & safety so we are requiring you to REFUND the {$100.00} before the {$200.00} can be released to your account.. '' I added the buyer 's information to my account ( XXXX XXXX XXXX XXXX address XXXX ). Once I proceeded to send the {$100.00} and proof of transaction, I received another email from " XXXX '' with the same as above, except this time the buyer allegedly had to repeat the step and send {$300.00} to my account and I another {$100.00}. 

I then received another email from " XXXX '' with the email Subject " Taxes and VAT ''. It said : " ... All refunds have been fully confirmed and the total sum of {$300.00} is on it's way to your account. However, we want to inform you about the ( Value Added Tax & VAT ) of {$100.00} USD that we charge to any debut transaction done on a newly updated business acount as customary to our business VAT policy that covers all transactions that are evr done with us as intermediary. Remite the fee of {$100.00} USD to this tag ( Email : XXXX, XXXX : XXXX XXXX ) and send a screenshot and your account will be updated and credited {$400.00} as soon as confirmed. '' I sent the {$100.00} and received yet another email from " XXXX '' with the email subject ***Certification Fee***. Requesting another {$100.00} fir the certification form fee for the confirmation of a fully active business account. 

At this point, I contacted my bank ( Chase ) to ensure this process is normal as I nor is my checking account a business and wanted to get more insight into these steps outlined. After almost an hour on the phone, it was revealed I was most likely apart of a scam as I was being asked to send money to a 3rd party ( XXXX XXXX vs the initial buyer ( XXXX ). My account information was updated and they both were removed from my XXXX account. But, as XXXX has no protections for consumer 's nor does Chase thru XXXX as they are a 3rd party service, nothing could be done in terms of a refund. I also contacted XXXX directly and they stated nothing can be done as well. 

With that, I have deactived my XXXX account and no longer plan to use them as a XXXX money transfer service.

Company response to consumer: Closed with explanation