Consumer complaint received 2023-04-11
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: JPMORGAN CHASE & CO. (FL)

I received a call from CHASE customer service to verify a transaction on my account as it looked like fraud, it was a transaction for approx {$71.00} from a XXXX in New Mexico. I told them no that is not me, I havent been to New Mexico. They asked if I had been out of the country and I told them no, I was in the hospital at the very moment and had been for a week. They told me they would ut a claim in for fraud and then said there was a {$28000.00} wire being made from my account- I had NEVER even set up wire access on my account and told them that. Told them to stop it. They said in order to do that they would have to transfer it out and that I would see it come right back in and it did. They then said they were attempting another transaction in the amount of {$27000.00} that they would have to do the same thing. I told them to stop it and that I was being taken for a procedure that I had to go. He told me he would stop it and call me back at XXXX and if I didnt hear from him by then he would call me by XXXX that next morning. XXXX came and no call, XXXX XXXX  came and no call. I called the number he called me on it went to Chase Customer Service, I told them what happened and that they got to my Non Profit account too. They said they would file a claim and walked me the how to Recall the wires, I did it immediately on XX/XX/24. I got out of the hospital that Saturday and went the branch in person on Monday and my banker called to check on the claim and the recall. They had no record of it, so he filed them again and we recalled them again. I have been fighting with them since. 

I lost {$27000.00} in my business account and {$19000.00} in another account that is a Non Profit that I am the President of. Chase is saying I benefitted and authorized these wire which I did not. ( Letter received yesterday for the non profit, have not received one for XXXX XXXX but was verbally told the claim was denied. I even received a call from XXXX XXXX, the bank the funds were being wired to to verify them I stopped them as well. 

I was told I would have resolution by today and still have nothing, in fact I received another message in my secure message box from the wire department ( which is the only way to reach them ) saying they needed a Letter of Indemnity, we heard this on Monday when I went to the branch. - no one can tell us what this is and XXXX XXXX confirmed they were not requesting it. The branch manager also spoke to people at Chase and XXXX XXXX confirming this. I still have no answers except that its a scam and I am unlikely to get the funds returned to me. I just dont understand how they can do this. Chase always sends you a text message to verify it is you. They did that, they called from the CHASE number, I did nothing wrong. 

When I realized Chase wasnt going to help me, I decided to XXXX it and saw your stories. Im praying you can help me as I dont have ANY money and have to answer to the Nationals parent company of the Non profit as well. This is customers money that they gave me to do work for them, this is also members money for sponsorships and event registration. Im suffering trying to make ends meet, taking care of my mother and mother in law and dont have a XXXX to my name and Chase isnt helping me. 

I have the phone numbers of the representative, XXXX at XXXX XXXX ( XXXX ) that confirmed she was able to stop them, and that the persons account that they went to tried to get a cashiers check from the teller that next day but she froze the account. XXXX also confirmed she had no idea what a letter of indemnity was and my branch manager was provided their wire department phone number to contact them. After almost an hour he reached them and they had no idea what it was and says there was no request for this. 

This is now 2 weeks of me providing any info I can to the bank to resolve the issue. Just this afternoon I sent this email in hopes of response : I am a client at the XXXX, Florida branch located at XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, FL XXXX. I am writing to bring to your attention a recent incident of wire fraud that has occurred with my business accounts. As a valued customer of your bank, I believe it is important to inform you of this issue and seek your assistance in resolving it since I have followed all the processes I was advised by your fraud, claims and branch employees and it has been over 2 weeks since the incident has occurred. I was told to wait until this past Friday to have resolution and I still do not have the money back in the accounts. 

One of the affected accounts is a non-profit account for a national association, which makes this matter even more concerning. The fraudulent activity has caused significant financial losses for the organization, and we are deeply troubled by the breach of security that has occurred. 

I would like to bring to your attention that a representative from Chase Bank called to verify the wires, her name was XXXX XXXX XXXX ) and the receiving bank, XXXX, XXXX XXXX ( XXXX ) also called to verify the wires. On both occasions, I denied the wires and instructed them to stop them telling them they were fraudulent. Despite this, the wires were still processed, and the fraudulent activity continued. 

I am deeply concerned about the security measures that are in place to protect my business accounts and those of other customers. I urge you to take immediate action to investigate this matter and put in place stronger security measures to prevent such incidents from happening again in the future. It is clear this is and has been happening throughout the US to thousands of your clients and Chase is not protecting them. 

Additionally, I was informed by the customer service representative that there is no way to talk to the wire department directly, and that all communication must be done through secure messaging. This has made the process even more frustrating and time-consuming. Furthermore, I was asked to provide a Hold Harmless ( Letter of Indemnity ), but neither the branch manager at Chase nor XXXX XXXX could explain what this document is or why it is necessary. Despite my best efforts to obtain this document, I was told by XXXX at Chase, that Chase no longer provides LOIs anymore and that Chase does it automatically for their clients. The secure messages I received from Chase continued to tell me that XXXX XXXX is requesting this LOI document. The branch XXXX at Chase spoke to XXXX XXXX and confirmed they do not need it and have not requested it, nor do they have a copy of one. The secure message said if I needed a template of one to provide my email address to them and when I provided my email address, I was informed that they could not send it to a personal email. This entire experience has been incredibly frustrating and has left me feeling unsupported by Chase. 

I believe it is your responsibility to ensure that your customers are protected from such actions, and I trust that you will take the necessary steps to rectify this situation. Why did Chase not block these wires from happening after I had told both Chase and XXXX XXXX it was fraud? How did Chase not catch that the wires had my home address on them, yet they went to an account in Texas? How can both Chase and XXXX XXXX call me to verify the wires and I tell them NO, but yet they still went through? How can I receive a letter from Chase for one bank account and nothing regarding the other but to tell me that I authorized and benefitted '' from the money being stolen from me. Its all the money that I have.. gone and I benefitted from all this? Why is there no record of me recalling the wires on the XXXX and filing a claim when customer service looks it up ( I have copies in my secure messages that I did this ), but there is on the XXXX when I went into the branch had to process them again? I have lost business, customers, I can not care for my family and fulfill orders for my customers, not to mention all the time. Ive lost everything, not benefitted. 

Chase has no proof of me authorizing, nor benefitting from the wires being sent, please return the money. I have provided Chase with proof that I did not authorize it, the location of the monies and who to speak to about it at XXXX XXXX. XXXX from XXXX XXXX went as far as to tell me that the man that did the wires came in her branch the next morning to get a Cashiers Check and they stopped the transaction and froze the account. THIS WAS WEEKS AGO. 

This situation has caused me an immense amount of stress and anxiety, not to mention the financial burden it has placed on me. I am a loyal customer of Chase and I have always trusted this bank to protect my assets. However, this incident has shattered that trust and I am left feeling helpless and unsupported by the institution that I have entrusted with my money. 

I implore Chase to take immediate action to rectify this situation. I also urge Chase to take a closer look at their security measures and to implement stronger protocols to prevent this type of fraud from happening to other customers in the future. 

As a small business owner, this investment is significant for me and my family. Additionally, I am the primary caregiver for my elderly mother and mother-in-law who suffers from XXXX. This investment is not only important for my business but also for the care and well-being of my loved ones. The funds invested represent all the money that we had available, and we are counting on this investment to help secure our future. 

I appreciate your attention to this matter and I hope that we can come to a resolution soon. Thank you for your time and consideration.