Consumer complaint received 2023-04-30
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: REGIONS FINANCIAL CORPORATION (IN)

Event : {$17000.00} unauthorized wire transfer from XXXX XXXXXXXX XXXX Region Bank checking account, due to fraudulent activity. Despite XXXX XXXXXXXX taking all steps to report immediately to Regions Bank that fraudulent activity had occurred on his account and following up repeatedly with Regions Banks ( several branches and Customer Service ), his case was denied. 

Actions : XX/XX/XXXX XXXX : the fraudulent call took place - fraudster posing as Regions Bank explained that there had been fraudulent activity on the account and asked security questions, to which XXXX XXXX answered. Call lasted over an hour. 

XX/XX/XXXX XXXX : XXXX XXXX logged into bank account and discovered that {$17000.00} was PENDING as a wire transfer, unauthorized by him. XXXX XXXX immediately called Regions Bank ( Regions Client Services XXXX ) to report fraudulent activity had taken place on his account. The {$17000.00} was still in his account at this time. 

XX/XX/XXXX XXXX : XXXX XXXX was told by a representation at Regions Bank that a flag to stop the transfer was put on his account and to call back on XX/XX/XXXX at XXXX to discuss, as XX/XX/XXXX was XXXX and the bank would be closed. 

XX/XX/XXXX XXXX- bank closed XX/XX/XXXX {$17000.00} leaves XXXX XXXX account, unauthorized by XXXX XXXX XXXX 
XX/XX/XXXX XXXX XXXX XXXX reports in person to Regions Bank to discuss. XXXX XXXX was told by Regions Bank at that meeting that he would receive provisional credit within XXXX days. 

XX/XX/XXXX XXXX XXXX corresponds via email with Regions bank manager, XXXX XXXX. He is told that Regions Bank located the money to which the wire was sent ( XXXX XXXX ) and that they were waiting for them to respond. XXXX XXXX was told by Regions Bank that XXXXXXXX XXXX  had 90 days to respond. 


XXXX XXXX XXXX repeatedly XXXX to Regions Bank in person and via email to check on the status of the credited {$17000.00} to his account. 

( XX/XX/XXXX and XX/XX/XXXX two email messages sent to XXXX XXXX, Regions Bank XXXX XXXX XXXX Banker ID : XXXX by XXXX  XXXX checking on status of missing {$17000.00} ) ( XX/XX/XXXX email message to XXXX XXXXXXXX from XXXX XXXX, Regions Bank stating " Regions is working with XXXX  regarding the wire claim. We are waiting for a response from XXXX regarding options. Once I get an update, I will follow up with you '' ) ( emails attached ) XX/XX/XXXX XXXX received letter in the mail from Regions Bank stating We have completed investigation on your claim. Based on this investigation, we have determined not to provide any credit to your account for the transfer ( s ). This determination was based on the following findings made during the investigation. Transactions were authorized using agreed-upon security procedures. ( letter attached ) XX/XX/XXXX XXXX XXXX called Regions Bank Customer Service to inquire about the details of the letter, finding " agreed-upon security procedures ' unclear. After 3 hours of being passed around from person to person and continually asking to speak to supervisors, he had a conversation with XXXX XXXX in the Regions Bank Fraud Dept. ( XXXX ) She told XXXX XXXX that she " didn't think he was at fault '', that an investigation had been opened through Client Services ( case submitted # XXXX ). She instructed XXXX XXXXXXXX, in the meantime, to return to a Regions Bank branch and have the branch manager go through Regions Bank channels to contact the Business Intrusion Department, Client Services and the Fraud Dept. 
XXXX XXXX visited several branches seeking help. All managers did not understand how he did not have his money back and said they would work on the case. No one has followed through. 


XX/XX/XXXX - XXXX XXXX received mass email to all Regions customers warning of fraudulent activity and outlining steps to take if customer found themselves in a fraudulent situation. The steps they outlined were exactly the steps taken by XXXX XXXX at the time of the incident. ( letter attached ) To date, no one has contacted XXXX XXXX regarding the investigation. Regions Bank has taken no accountability, nor communicated effectively and timely. 

Despite taking ALL STEPS necessary, as outlined by Regions bank, at the first knowledge of fraudulent activity, XXXX XXXX PENDING unauthorized wire transfer of {$17000.00} was processed and not returned to his account.