Consumer complaint received 2024-11-19
Product: Checking or savings account — Savings account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: CITIBANK, N.A. (CA)

Dear XXXX XXXX XXXX I am writing to file a formal complaint against Citibank for their failure to prevent a fraudulent wire transfer of {$57000.00} from my account on XX/XX/2023, and for their subsequent negligence in handling the situation. Despite my immediate attempts to report the fraud and secure my account, Citibank did not act swiftly enough, resulting in financial loss and distress. Below is a detailed account of the events. 

XXXX of Events : XX/XX/2023 : At approximately XXXXXXXX XXXX, I received a call from a number that appeared to be officially from Citibank. The caller informed me that my card had a travel advisory and asked if I had set any advisories for XXXX or Florida, which I had not. The caller then mentioned unauthorized transactions on my account, including a wire transfer of {$57000.00} to an individual named XXXX XXXX, which I immediately recognized as fraudulent. 

The caller asked me to verify a one-time passcode ( OTP ) that Citibank sent to my phone to turn on notifications. I unknowingly provided the OTP, which allowed the fraudsters to add unauthorized payees, including XXXX XXXX and XXXX XXXX, to my account. The caller assured me that my account would be frozen, and a new ATM card would be sent. 

I was given a case number XXXX, but the next day, XX/XX/2023, I received an email notification stating that the wire transfer to XXXX XXXX had been executed. Alarmed, I visited a Citibank branch immediately. 

At the branch, I learned that my account had not been frozen, and no new card had been issued. After escalating the issue, XXXX minutes had passed since the transfer before Citibank intervened to attempt a recall. The manager confirmed that the funds had been sent to a XXXX XXXX  branch in Delaware, but they could not retrieve the funds. 

I later learned that the fraudsters tried to cancel the wire recall, claiming it was a mistake. However, the transfer was flagged as fraudulent in the SWIFT system, preventing them from accessing the funds.

Citibank 's Negligence and Failure to Act : Despite my efforts to freeze my own account and report the fraud to the police and FBI, Citibank failed to act promptly. Their lack of timely intervention and failure to prevent the transfer caused me financial harm. I had to take matters into my own hands by contacting the police and the FBI, while Citibanks fraud department provided little help.

The fraud transfer was only stopped after I reached out to Citibanks branch and fraud department. Citibank did not act swiftly enough to secure my account and prevent the transfer, despite being notified immediately.

Request for Resolution : Given Citibanks negligence, I am seeking full reimbursement of the {$57000.00} that was fraudulently transferred from my account. Citibanks failure to act quickly left me in a vulnerable position, and I was forced to take additional steps on my own to report the fraud.

I also urge Citibank to implement stronger fraud detection measures to protect customers from similar incidents in the future. 

I appreciate your attention to this matter and hope for a swift resolution. 

Sincerely,