Consumer complaint received 2024-07-13
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: MORGAN STANLEY & CO. LLC (HI)

On XX/XX/XXXX, I was a target of a phone scam. A person claiming to be a representative of XXXX XXXX XXXX called to let me know that my XXXX XXXX XXXXXXXX XXXX credit card has been approved and he just needed some details from me. The phone number he called from is XXXX XXXX. He called himself XXXX XXXX. 

I had been having issues with my business credit card application for two weeks so the phone call from him was very timely and accurate. He verified my personal information via a voice call and I provided him details of my personal and bank account information like credit card details and login verification codes through my phone number.

I have had many calls with banks prior to this and the questions he asked were just a normal part of the identity verification process. I have also been XXXX XXXX XXXX XXXX XXXX XXXX so I am very XXXX XXXX when it comes to the internet and online portals. 

On the morning of Monday XX/XX/XXXX, I woke up to my mobile phone number no longer working and my E*Trade / Morgan Stanley bank account had 2 outgoing wire transfers totaling {$35000.00}. I called E*Trade / Morgan Stanley immediately . 

E*Trade / Morgan Stanley managed to block an outgoing wire of {$15000.00} but the {$20000.00} wire had apparently left my account and customer service told me that they were in the process of recovery and recall of the funds. 

The next day on XX/XX/XXXX, I called the wire recipient 's bank, XXXXXXXX XXXX in New York and alerted them to the fraud by providing the account number the wire transfer went to. The fraud department alluded to the fact that the account number was a legit account number belonging to their bank but did not provide any further details. They were surprised to hear from me as the supervisor mentioned that they typically deal with the fraud department of banks and not consumers. 

The recipient of the funds is registered to the following : XXXX XXXX XXXX XXXX XXXX XXXX  number XXXX XXXX XXXX The registered address on this account is : XXXX XXXX XXXX XXXX NY XXXX I have since sent ETrade / Morgan Stanley my notarized affidavit, my report to the FTC, my report to the DA of New York and IC3/FBI.

It has been over a month and I have not received any communication whatsoever from Morgan Stanley. They have frozen my bank account so I can't withdraw or move any funds and they have failed to do anything. I have called no less than 5 times at least once a week over the month and they have been stringing me along with promises to contact me. To date, I have not received any phone call nor email from Morgan Stanley. 

The {$20000.00} has still not been returned and I have no idea what is actually happening to my account. The fact that Morgan Stanley managed to stop the {$15000.00} from leaving my account when I called in tells me that they know both amounts were fraudulently sent. 

As a victim of fraud, my actions were swift because I acted within hours and I have done everything possible in my power to ask for the reversal of the funds to my account. 

I thank you for your help in advance on this matter. 

Sincerely yours, XXXX XXXX XXXX XXXX XXXX XXXX