Consumer complaint received 2023-01-15
Company: JPMORGAN CHASE & CO.
State: NY
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Fraud or scam

Complaint:
Around XXXX on XXXX  XX/XX/2022, I received a phone call from registered caller ID as Chase Business ( XXXX ) XXXX The representative said they detected fraud in the form of a wire transfer originating in XXXX Texas if I authorized these charges. I firmly said no and they then asked if I would like to cancel them, I said Yes. They said they needed to verify my identity and they would ask a series of questions. 
They asked if my address was XXXX, I said yes. 
The asked if my phone number was XXXX, I said yes They then said they would transfer me to the fraud department. I was on hold for about XXXX minutes. The next caller identified himself as XXXX. He asked a series of the same security questions. They did not ask me to give any information. They only asked a series of yes/no questions. They asked me if I lived at several different addresss. Some were yes, some were no. They had addresss for me that I lived at 20 years ago. 
They then said they would like to review the most recent charges they gave me my present balance which I confirmed. 
I asked the caller for his name and representative number. He said his name was XXXX and his rep number was XXXX They were able to read off at the last 6-10 charges. I had my app open so I verified everything because it was all correct. They then asked me to check my other accounts if I noticed any fraud on those accounts. I did and there was nothing. I then checked the wire transfer and there were two wires pending one for {$40000.00} and one for {$38000.00}. I started to panic. They said it was no problem that because they were pending they could still stop them from processing. They gave me the information of the receiver and asked if I knew who they were, I said no. 
They asked if I had given anyone my log in info or if anyone had used my devices, I said no. 
I then asked if they could give me some sort of proof that it was in fact Chase on the line. They sent me a one time passcode text message, I received it as a text on my phone in a thread from previous Chase code texts I had received in the past. So I felt more safe that it was Chase. 

They then said they could verify by sending me another message to the app. I opened up the app and I received a pop up window from Chase that read a chase representative is calling you or on the line, can you verify yes or no there were to options yes/no so I clicked yes and it immediately took me back to the home screen of my accounts. That made me feel more secure since I was logged into the app. They said they would put me on hold while they waited for the charges to stop processing. 

While they had me on hold, I muted them and used my business phone to call Chase directly. I let them know that I had received a phone call from them and that there was wire fraud charges pending if this was a real call. The representative said there was no way for him to tell. He saw the pending charges and all he could do was make a claim. I hung up with the other line and asked this new representative to please escalate as it was my entire bank account being fraudulently wiped out and the charges were still pending that we could possibly catch it in time to stop them. We went through another round of security questions and started to file the claim. As this transpired the charges processed and I received an email that the wire was processed. I was furious and very upset. The representative said there was nothing he could do. I would receive paperwork in the mail in 7 days and to fill out and send back. I immediately went to the police station to file a report. A few hours later I received a phone call from XXXX XXXX Bank calling to confirm the charges. I denied them and they said they would do they're own investigation but could give me no further information since I was not there customer. I still have the voicemail if needed to be furnished. 
At no point did Chase call me or send me any text messages or email to confirm these wire charges. I have zero history in the many years of banking with chase of ever sending anyone that large of a wire transfer much less my entire business funds. I dont know who those individuals are and can not understand how Chase allowed my account security to be breached. Furthermore, there was fraud on my business debit card just one week prior to this happening to which we had to close that card and issue a new one. Since this incident, I have continued to receive phone calls from caller id registered as Chase Business ( XXXX ) XXXX. Additionally, I have received two more attempts on this account which I have denied and the account at the time is frozen/blocked. I am not sure how this keeps happening. My security with Chase is breached. My private information has been leaked and my life savings is gone. I need this to be reinvestigated. The persons who received the wire information is there for Chase to investigate.

Company response to consumer: Closed with explanation