Consumer complaint received 2024-08-01
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: SOFI TECHNOLOGIES, INC. (NJ)

On Thursday, XX/XX/year>, XXXXXXXX XXXX XXXX XXXX XXXX wrote : Dear All, I am writing to express my profound distress and outrage regarding the unauthorized usage of my debit card for international money transfers through XXXX XXXX on XXXX. This incident has not only compromised my financial security but has also highlighted severe deficiencies in the security features of XXXX XXXX services, which failed to detect and prevent such fraudulent activities. 

To provide more context, on XXXX, I discovered unauthorized transactions on my debit card via email, totaling four transactions through XXXX XXXX for USD XXXX i.e. XXXXXXXX XXXX Three of these transactions were successfully completed ( XXXX USD, XXXX USD, and XXXX USD ), while one failed due to insufficient funds. I have attached receipts of these transactions for your reference. 

Upon noticing the email notification of these transactions, I immediately took action by contacting XXXX XXXX through email and phone calls to their customer care centers in XXXX and the US. Despite my urgent plea and notification within 30 minutes of the initial email, I was met with refusal and indifference from the customer care representatives. Instead of providing assistance, they refused to provide me with any information about these transactions and asked me to seek intervention from law enforcement authorities. 

Subsequently, I managed to register a case with XXXX XXXX, with case number XXXX. However, to my dismay, I was informed that since the transactions were already completed, XXXX XXXX could not provide any assistance. Furthermore, my attempts to seek support from SOFI, regarding these fraudulent transactions, were met with unhelpful responses. The representative advised me to wait until the transactions changed from pending to posted before initiating any investigation as the amount was too high. 

This unacceptable response from both XXXX XXXX and SOFI has left me in a vulnerable and precarious financial situation. It is clear that the current security measures in place, particularly the lack of XXXX or secondary authentication layers within the Western Union app, are grossly inadequate in safeguarding customers ' accounts against fraudulent activities. 

I urgently request your immediate attention and intervention in this matter. Swift and decisive action must be taken to rectify this situation and prevent any further unauthorized transactions. I expect a prompt response detailing the steps you will take to address this issue and provide me with the necessary support and assistance. 

Failure to address this matter adequately will leave me with no choice but to escalate this issue further and seek legal recourse. I trust that you will treat this matter with the urgency and seriousness it warrants. 

I have attached the report filed with the police here in XXXX, XXXX location. 

Sincerely, XXXX XXXX XXXX : XXXX XXXX : XXXX XXXX -- -- - Forwarded message -- -- - From : XXXX XXXX XXXX To : SoFi Support XXXX Sent : Thursday XXXX XXXX XXXX at XXXX XXXX XXXXXXXX Subject : Re : Dispute # XXXX has been received Hello Sofi, I am writing this email as advised by the Sofi customer service rep XXXX XXXX XXXX, and seeking further information on what additional documents or resources I can send to help pro

ve the transactions are fraudulent. A few steps that I immediately took when this fraud happened to me : 1 ) Initiated a chat with Sofi customer service to report this fraud. ( I have shared screenshots of the same with you ) 2 ) Filed a police complaint in the traveling country i.e. XXXX. ( I have shared the proof ) XXXX ) Sent out emails and contacted through phone as well to XXXX XXXX to stop the transfer under 30 minutes of fraudulent activity. 
4 ) Called SOFI to cancel the transaction as it was still pending, but I was told to wait for these transactions to be settled before any dispute could be raised. 
XXXX ) Filed a police complaint at the New Jersey police station immediately after returning to the XXXX. 
XXXX ) Filed a complaint with consumer finance regarding XXXX XXXX not asking for one-time passwords or any form of authentication before starting the fund transfer. 
XXXX ) I have changed my passwords for the XXXX and SOFI app to mitigate further risks of password leaks. 
XXXX ) I have changed my email address on file for SOFI to protect my account. 
XXXX ) The nature of transactions can be seen in that my entire checking account was flushed out of money in parts of XXXX $ and XXXX $ until the balance turned XXXX. Since, I had an overdraft facility on my account, even my savings account was flushed out for money. 
XXXX ) I have not used XXXX for over a few years and it can be seen through my transaction history as well. 
XXXX ) Since I had huge savings accumulated in SOFI of over XXXX USD and my account was compromised, I have started moving some of my funds out of that account to balance my financial nest. 

Happy to provide any documentation, or evidence that can help strengthen my case. Thank you for your careful consideration. 


Thanks, XXXX