Consumer complaint received 2024-10-05
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: TRUIST FINANCIAL CORPORATION (FL)

On XX/XX/year>, I checked my business checking account with Truist Bank and found XXXX fraudulent debit transactions had taken place totaling {$12000.00}. These transactions all originated from XXXX and posted between XX/XX/XXXX and XX/XX/year> using my debit card information. My debit card was never lost and was always in my possession. I immediately reported the issue to Truist fraud department on XX/XX/XXXX. Truist stated they would return the funds to me, contact the merchant and conduct an investigation. 

On XX/XX/XXXX, just a few days after I reported the fraudulent transactions, I received a denial of claim letter from Truist. The letter stated the reason for denial to be, " we have determined ... there is a history of undisputed transaction ( XXXX ) with the merchant... This explanation did not make sense as I don't have a history of " undisputed transactions '' with any merchant including XXXX. Ive never had money stolen from my bank accounts before. 

I contacted XXXX on XX/XX/XXXX, and they disclosed that Truist had never contacted them. I asked XXXX for details of the transactions and they said someone named XXXX made them via telephone. However, XXXX stopped short of providing more details, such as where the items were delivered. XXXX stated they would investigate and gave me a case number. I later called XXXX again for an update and asked them for a refund. They refused to give me a refund, and said my bank had not contacted them yet, and it was my banks responsibility to investigate and reinstate the funds to my account. 

I continued communicating with Truist and submitted on XX/XX/XXXX, the paperwork provided by Truist including a letter with additional details to appeal their claim denial. I also visited a local Truist branch on XX/XX/XXXX to ask them to reopen the case and review all facts since Truist had not contacted XXXX and an investigation had not taken place. The bank rep again reassured me that after their investigation, if those were fraudulent purchases, they would return the funds to my account. 

On XX/XX/XXXX, Truist sent another denial letter stating that, " the transactions were not reported in the required timeframe ''. I tried several times to reach a Truist fraud analyst, requested answers to questions in writing, and asked for details as to what they found in their investigation and why the claim was denied, but they never provided me with any of that information. I filed a police report on XX/XX/XXXX. 

From what I read, consumers have 60 days after receiving the bank statement to report a fraudulent transaction, but according to Truist, you have 30 days. Even so, XXXX ( XXXX ) of the fraudulent transactions took place between XX/XX/XXXX and XX/XX/XXXX. The earliest statement closed on XX/XX/XXXX and I reported the issue on XX/XX/XXXX - well within the 30 day Truist requirement. 

I learned that Truist had a data breach a few months ago that exposed many of their customers bank information and personal data. Did my information get stolen from Truist in a data breach and they are not disclosing this? Is there internal theft at Truist? I still dont have answers for how my card information was obtained and used to make XXXX fraudulent transitions totaling {$12000.00}. 

I am asking that this case be properly investigated and that I receive information of the findings. I trusted Truist as a legitimate banking institution to safeguard my money. Truist needs to be compelled to return the money that was stolen from my account.