Consumer complaint received 2024-10-17
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem — 
Company: Block, Inc. (GA)

XXXX XXXX ] [ XXXX XXXX XXXX, XXXX # XXXX ] [ XXXX, GEORGIA XXXX ] [ XXXX ] XXXX ] [ XX/XX/year> ] Cash App ( Square, Inc. ) XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, CA XXXX Subject : Notice of Violation of FCRA Statutes and FTC Guidelines, and Demand for Resolution To Whom It May Concern, I am writing to formally dispute a transaction and to notify you of violations of the Fair Credit Reporting Act ( FCRA ), the Federal Trade Commission ( FTC ) guidelines, and your criminal negligence in handling my financial dispute. Specifically, Cash App allowed unauthorized transfers totaling over {$1200.00} from my personal bank account to your platform, which were then dispersed to newly created Cash App accounts. I am seeking an immediate remedy to this issue as well as an acknowledgment of your legal responsibilities under federal regulations. 

Description of the Unauthorized Transactions : On [ XX/XX/year> ], a total of [ {$1200.00} ] was transferred from my personal bank account ending in [ XXXX ] to Cash App without my authorization. These funds were then dispersed to Cash App accounts that were newly created and unverified. 

Upon discovering these transactions, I immediately notified Cash App and provided all necessary and relevant evidence, including but not limited to : Transaction details A police report filed with XXXXXXXX XXXX XXXX XXXX XXXXXXXX ] Communication logs with my bank disputing these charges Despite providing clear evidence of fraud, I was met with a denial of my dispute and a refusal to conduct a proper investigation or give the due process required by law. 

Violations of the FCRA ( 15 U.S. Code 1681 et seq. ) Under the FCRA, consumer reporting agencies and financial institutions are required to conduct reasonable investigations when disputes are filed regarding unauthorized transactions or inaccurate credit information. Cash Apps failure to appropriately investigate these transactions and deny my claim without due process constitutes a violation of the following provisions : 1. 15 U.S.C. 1681i - Procedures in Case of Disputed Accuracy Cash App failed to reasonably investigate my claim despite having provided documented proof of fraud.

2. 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( B ) - Duty to Correct Information Upon receiving my dispute, Cash App did not correct the inaccurate and fraudulent information regarding the transaction. 

Violation of FTC Guidelines As a financial platform under the supervision of the Federal Trade Commission ( FTC ), Cash App is required to adhere to guidelines concerning consumer protection, fraud detection, and timely dispute resolution. The FTCs guidelines clearly outline that financial institutions must employ adequate protections to prevent unauthorized transactions, fraud, and identity theft. 

Cash Apps failure to stop these unauthorized transfers, despite clear warning signs and failure to respond appropriately to my dispute, violates the following : The FTC Act ( 15 U.S. Code 45 ) Cash App engaged in unfair and deceptive practices by failing to ensure that its platform was safe and secure for transactions.

FTC Red Flags Rule ( 16 C.F.R. 681.1 ) As part of identity theft prevention, the failure to detect and act on suspicious activitiessuch as the sudden creation of new accounts and large transfersconstitutes negligence and a violation of the FTCs Red Flags Rule.

Demands In light of these violations, I demand the following actions be taken immediately : 1. Full Refund : The total of $ [ XXXX ] must be returned to my bank account immediately. 
2. Proper Investigation : Cash App must conduct a thorough investigation into this matter, including investigating the accounts that received the stolen funds. 
3. Confirmation of Compliance : Cash App must comply with all FCRA statutes and FTC guidelines regarding consumer disputes, and provide me with confirmation of this compliance. 

Failure to respond adequately to this notice will result in my filing formal complaints with the Consumer Financial Protection Bureau ( CFPB ), the FTC, and, if necessary, pursuing legal action to recover damages for negligence, violation of federal statutes, and failure to protect my financial assets. 

Please provide a written response within 5 business days from the date of this letter, acknowledging receipt and outlining the steps you are taking to resolve this issue. 

Sincerely, [ XXXX XXXX ]