Consumer complaint received 2018-11-30
Company: JPMORGAN CHASE & CO.
State: NV
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I am the victim of unauthorized electronic withdrawals from my checking and savings accounts with Chase Bank ; I contacted the bank XX/XX/XXXX immediately after discovering these withdrawals, which had taken place over the previous fourteen days. In addition another six unauthorized withdrawals had been taken from my savings account. Because these earlier transactions were beyond the 60 day timeline in which Chase would be held liable for the loss, Chase refuses to investigate the recent XXXX savings withdrawals ( totaling {$25000.00} ). They insist I sign a document listing all unauthorized withdrawals but list only the transactions from the earlier timeframe, none from XXXX. How can I sign a legal affidavit that asks for all unauthorized transactions when they dont allow me to include the XXXX transactions? Chase is unwilling to investigate the entirety of the electronic thefts and recover these funds after numerous requests. Timeline below : On XX/XX/2018 I discovered unauthorized electronic transactions to my personal checking account. I immediately called Chase to report these electronic withdrawals and was informed that they would be freezing this account. Not knowing how the intrusion happened and knowing all my Chase accounts are linked, I began checking all my other accounts and discovered unauthorized electronic transactions in my savings account. I alerted the Chase representative I was l on the phone with of this. I was then told they were freezing all my accounts, not just the checking, and would be receiving a letter from Chase listing the disputed unauthorized transactions for my review and verification. I was instructed to visit a branch office as soon as possible regarding the situation. 
On XX/XX/2018, I visited to my local Chase branch in XXXX, NV to begin the process of closing/reopening accounts. While there, bank representative XXXX XXXX worked with me and obtained the letters for the two impacted accounts ( personal checking and savings ). We discovered together that the letter regarding the savings account failed to include all the unauthorized electronic transactions in XXXX ( starting with a trial debit and credit to XXXX on XX/XX/18, electronic transfers and payments to XXXX on XX/XX/18, XX/XX/18, XX/XX/18, XX/XX/18 and an online payment to XXXX XXXX on XX/XX/18 ). Ms. XXXX advised me not to sign and return anything that was incomplete. I then called my Chase private client banker XXXX XXXX ( at the XXXX, NY branch ) who concurred. Ms. XXXX then called Chases fraud claims office to advise of the missing transactions on the report ; the fraud claims office told her that they would not be revising the letter with the addition of the XXXX transactions. Ms. XXXX then requested to speak with a supervisor, and was passed to XXXX who repeated that they would not make any changes to the letter ; before hanging up, Ms. XXXX handed the phone to me and XXXX repeated directly to me that they would not change the letter. We pointed out to him that the transactions in XXXX differ from earlier transactions and should be two separate claims, but he replied that he would not consider that. We requested to have this escalated to executive office. Ms. XXXX advised me I would be contacted by executive office.

On XX/XX/XXXX I received a call from XXXX at Chases executive office who gave me her contact info, advised that she was assigned to this case and would contact me with further questions if needed. The next day I phoned XXXX at the number she gave and left a message asking how I should proceed regarding the letters I received with the incomplete unauthorized transactions. I did not hear back from her until XX/XX/XXXX at which time she said I needed the sign letters to continue the process. They would not include the XXXX unauthorized transactions in my savings account since they were more than 60 days after the first set of unauthorized transactions. I asked her how/why did she think the two were related, that the XXXX savings and checking transactions seemed more related ( pattern of testing account with trial debit/credit, ID # s, etc.. ) than the earlier savings transactions but she kept to the script and would not respond to my observation or my question of why Chase was not investigating these transactions since they went into identifiable accounts at other financial institutions. I also asked how I could sign a document that asks me to list ALL unrecognized transactions in my account but which Chase will not list fully? I was told that if I did not sign the form ( listing only 6 of the 13 transactions ) I risk all claims/transactions being denied. I feel I am being coerced into signing something that differs from Chases own written terminology in the letters they have sent. 
There have never been ACH debits initiated from my savings account nor EXTERNAL payments or transfers from this account prior to the fraudulent transactions. A critical point that must be stressed here is this activity was HIGHLY unusual and suspect for this account ; it should have triggered Chase fraud alerts immediately. These payments were made to financial institutions and vendors I have no history or transactions with EVER. The sheer size, frequency and type were significant factors that should clearly have been flagged by any electronic banking security system, especially Chase, who advertises their top in class fraud prevention. Chase branch personnel have repeatedly assured me that the bank has state-of-the-art fraud protection software and security systems in place to monitor unusual activity, yet Chase never alerted or contacted me in any way to confirm I was making these unusual and unprecedented external payments and ACH debits. It bears repeating that there had never previously been any external payments from this account. At the very least, this highly unusual activity should have been flagged on the banks internal suspicious activity report. 
It is clear Chase has acted irresponsibly, perhaps even negligent in the way they have handled these accounts. Chase has a fiduciary duty to protect the assets they hold. This is an enormous failure by Chase and a breach of the fiscal guardianship they promote.

Company response to consumer: Closed with explanation