Consumer complaint received 2022-08-01
Company: PNC Bank N.A.
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
This is a continuation of complaint XXXX that was dismissed without resolution. 
PNC Bank has failed to assist in the recovery of funds that were fraudulently removed from my account by wire transfer. The issue right now is that the response from PNC does not include any requested information about their attempt to contact XXXX XXXX  XXXX where the funds were transferred. All I was told by the person signing the below letter is that they contacted XXXX XXXX XXXXXXXX in an attempt to recall the transfer. PNC said that XXXX XXXX  XXXX did not respond. I will be sending in another complaint about XXXX XXXX XXXX. When I asked the signer of the letter to provide me with the correspondence with XXXX XXXX XXXXXXXX, she refused and said I would need a subpoena. 
I lost {$25000.00} and they are not providing information! In the letter it says they recommend I contact law enforcement. This was done previously, and if PNC would have provided this vital information, perhaps the recall could have been made. I do not know if in fact PNC ever contacted XXXX XXXX XXXX and they did not perform their fiduciary duties. And if they did contact XXXX XXXX  XXXX, why would they not share this with me, the victim, so I can share it with law enforcement. 

Here is the letter from PNC : XX/XX/2022 XXXX XXXX XXXX ( via CFPB and OCC Portal ) RE : Office of the Comptroller of Currency Case Number XXXX Consumer Financial Protection Bureau Case Number XXXX Dear XXXX XXXX XXXX XXXX This is in response to the complaints filed on XX/XX/2022, with the Consumer Financial Protection Bureau and on XX/XX/2022, with the Office of the Comptroller of the Currency regarding your PNC Bank , XXXX XXXX ( PNC ) Performance Select checking account ending XXXX ( the Account ). Thank you for taking the time to speak with me on XX/XX/XXXX and XX/XX/2022, regarding your complaints. I appreciate the opportunity to address your concerns. 
In the complaints and during our conversation, you stated that you were a victim of wire fraud. You stated that a scammer posed as a trusted source and instructed you to send a wire for the money owed. You stated that on XX/XX/2022, you initiated a wire transfer in the amount of {$25000.00} ( the Wire ). You stated that on XX/XX/2022, you discovered that you were scammed and called your local PNC bank branch to assist. You stated that the bank made no effort to assist you with recovering the wired funds. You stated that you were able to get in contact with PNCs fraud department and you have not heard back from them since they filed a fraud claim on your behalf. You requested PNC refund the {$25000.00} and provide information about the delay in contacting XXXX XXXX XXXXXXXX to recover the funds. 
A wire transfer is an electronic transfer of funds from one financial institution to another at the direction of a customer of the institution initiating the transfer in accordance with Federal Guidelines. Funds are deposited directly into an account at the institution receiving the funds. Wire transfers are high risk transactions because funds are generally immediately available upon receipt and irrevocable once sent. The customer is responsible for providing complete and correct information to send a wire transfer and may need to verify wire information with the beneficiary. 
PNC reviewed your assertions regarding this matter and determined that PNC took the necessary steps to recall the Wire in a timely manner. Our records confirm that on XX/XX/2022, you visited a PNC branch and initiated a domestic wire transfer in the amount of {$25000.00} from the Account. As part of the wire transfer you initiated that day, you signed and agreed to the wire transfer terms and conditions ( Agreement ), agreeing to have the funds debited from your Account and sent to the beneficiary according to the instructions you provided. Our records confirm the Wire was processed as you instructed. 
Please note that PNC can attempt to recall a wire transfer when a customer reports an error or requests cancellation of a wire transfer, but cancellation of a wire transfer and recovery of wired funds may not be possible. Our records reflect that you contacted PNC on XX/XX/2022, to request a recall of the Wire. On XX/XX/2022, PNC sent a recall notice to XXXX XXXX XXXXXXXX. On XX/XX/2022, PNC sent a letter informing you that we are unable to recall the Wire. 
Our goal at PNC is to offer a level of service that exceeds our customers expectations and I apologize that your experience with this matter did not reflect this. We have shared your experience with the appropriate level of management. 
We understand that falling victim to a scam can leave you seeking additional information on how to report such activities. You may wish to follow up with your local authorities and file a complaint at www.IC3.gov in reference to your concern of being scammed online. 
Member of The PNC XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX Pennsylvania XXXX XXXX / pnc.com Thank you for allowing me to clarify PNCs position in this matter. If you have any further questions regarding this issue, please feel free to contact me directly at XXXX. I am available Monday through Friday from XXXX a.m. to XXXX p.m., XXXX XXXX. 
Sincerely, XXXX XXXX XXXX XXXX Executive Client Relations PNC Reference Numbers XXXX and XXXX Member of The PNC XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX Pennsylvania XXXX XXXX / pnc.com

Company response to consumer: Closed with explanation