Consumer complaint received 2024-07-17
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: JPMORGAN CHASE & CO. (NY)

On XXXX XXXX, 2024 at XXXX PM I received a text ( which I now recognize was a XXXX scam ) impersonating Chase Bank asking if I had made some wire transfers from my account. I contacted the number as directed, and thinking that I was speaking to a Chase XXXX representative gave them access to my Chase account. They then started moving money between my bank accounts, eventually wiring {$6500.00} and {$7200.00} to persons named " XXXX XXXX '' and " XXXX XXXX '' at XXXX XXXX  -- whom I do not know at all. There was also a third recipient named " XXXX XXXX '' added to my wire templates, but luckily Chase automatically stopped that last transfer for an ( unknown to me ) amount. I contacted Chase IMMEDIATELY when I saw money suspiciously moving around my account -- within minutes of hanging up on the scammer. The first actual Chase representative I spoke to was not very helpful -- transferring me to a person ( XXXX XXXX ) that would reset my account without providing a case number or next steps. They also did not initiate a XXXX recall at that time. So I quickly asked to speak with someone else in XXXX  who confirmed that only XXXX case ( Inquiry XXXX for {$6500.00} ) had been opened; and she helped me open the second case ( Inquiry XXXX for {$7200.00} ) at that time. She also initiated XXXX recalls for both amounts at that time, but they were not successful -- although I am not sure why since this happened early in the day before money should have left Chase bank. I would also like to add that in the many years I have been banking with Chase I have only performed XXXX wire transfer and it was for a much smaller sum, so I am not sure why the system let this transfer go through. 

Chase closed XXXX  US Dollar Wire Transfers Inquiry XXXX on XXXX XXXX, 2024 XXXX PM and US Dollar WireTransfers Inquiry XXXX on XXXX XXXX, 2024 XXXX PM claiming that the funds could not be recovered and that there is nothing further they can do. 

I contacted Chase again in XX/XX/XXXX since this is a clear case of XXXX and they are legally required to reimburse me for the fraudulent transactions under the Electronic Fund Transfer Act ( EFTA ) and Regulation E. And despite the law 's specifications that " An unauthorized EFT is an EFT from a consumers account initiated by a person other than the consumer without actual authority to initiate the transfer and from which the consumer receives no benefit '', Chase is claiming that because I was coerced giving the fraudsters access to my account, it was an " authorized transaction '' -- despite the fact that I did not make the transaction myself. They are also claiming that they can only reimburse the funds if they are recovered ( which is not a specification of the law either ). 

I even spoke to a representative in the claims department who said our conversation was " fun '' and a " great debate '' to a customer who is out nearly {$14000.00}. I have recordings of the conversation where this happened. The disrespect and disregard for respecting the consumer is outrageous. 

Chase thinks that its internal terminology and disclaimers are above the law and acknowledges no responsibility or negligence on their end.