Consumer complaint received 2022-05-23
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: CAPITAL ONE FINANCIAL CORPORATION (NY)

I was defrauded by a hacked email from one of my vendors who I have known for more than 30 years. The email directed me to return a wire that was mistakenly issued to my account, an account I regularly use with this and other vendors. I came to find out that this was a hacked email after I return wired the funds. The fraudster then cancelled the original wire, which was not a wire at all but a counterfeited check ( the bank repeatedly told me it was a wire after telling me that wires can not be cancelled. ) Capital One Bank ( my banker ) has and will do nothing for me except ask the recipient bank to return the funds, which the recipient bank ignores. Below is the more detailed recitation of the events, copied from correspondence with the CEO of Capital Bank. 
============== Dear XXXX, This is my second communication to you. The first is memorialized here to refresh your recollection, assuming you have seen it. Updates are presented in the forthcoming section identified by the double asterisks. 

( This is what I previously sent you ) I hope this communication finds you in good health and good spirits. I, unfortunately am burdened by the loss of almost $ XXXX in a small business Capital One account due to fraud and would like to see if some intervention is possible from the top down. 

My name is XXXX XXXX XXXX. I have been an account holder since XXXX. I have experienced satisfactory service from Capital One. However I have recently seen a side of Capital Ones banking practices and customer service that is mind boggling. Here are my circumstances. 

On XX/XX/XXXX I received an email from a vendor I have been doing business with for more than 30 years. The email stated that the sum of XXXX was mistakenly wired into my account and can I please wire it back. I checked my account. There was XXXX in my account that I was not expecting nor did I bill for. So, I wired it back to the banking information provided in a second email. When I called the vendor to say my return wire was executed they did not know what I was talking about. Their email had been hacked and my banking information was pulled from a prior invoice. 

At this point, looking in my account there was XXXX in and XXXX out. I suspected the hackers were trying to use the information to launder money from within my account. I called Capital One to report it. My hold time was excessive. Eventually I was passed to two different people before I got to a fraud specialist who told me they were stopping my wire and returning it to my account. I made sure to tell them that doing so would leave me with the XXXX from the original allegedly mistaken wire plus the money that would be returned. I dont want to gain by someone elses fraudulent activity. 

No one called as promised. I kept a watchful eye on my account over the next few days. A few days later I saw the following in my account : The original wire that I sent was debited for XXXX. 
An additional XXXX was placed on hold in my account ( for reasons I do not understand ). 

This was worrisome so I called again, and this is where my nightmare accelerated. I once again called customer service nervous and upset. The customer service representative had no idea what I was talking about and her thick accent was incomprehensible to me. I asked to speak with someone because I knew at that point that the potential for misunderstanding was very high. I was asked to hold for three to five minutes and after a period of much longer than that I was transferred to another heavily accented individual whom I had to explain my story to from the start. He referred to my situation as tricky, and passed me to a fraud specialist who immediately saw what happened and assured me that only a hold was placed on my account and the money was still there. I asked if it were possible to contact me when the matter was resolved. He agreed and I was satisfied for the moment. 

After a few days of not hearing anything I checked my account and the money that was placed on hold was withdrawn from my account. I panicked because things were not happening as I had assumed they would. 

I now had XXXX in, XXXX I wired out under false pretenses, and an additional XXXX removed from my account by Capital.So on balance I had a XXXX credit and TWO XXXX debits leaving me with a net loss of XXXX. 

At this point I am frustrated and livid. Eventually I was passed to another Fraud specialist named XXXX XXXX I think ). From the outset he insinuated I would probably not get my money back and when I asked why he said some things that were utterly illogical. 
I was told that once a wire is executed it can not be stopped. 
When I wired the money from my account to the fraudulent imposter I did it willfully notwithstanding it was done under false pretenses and as a result I might not have any recourse. 
When I asked him to explain how the original XXXX was reversed based on his statement he proceeded to lecture me on why I should never wire money to correct a mistake. Now here is what I would appreciate you focusing on : When I asked how I would know that he said You know now. This statement and the entire conversation was condescending. It was as though my inquiry with respect to an unexpected XXXX loss from my account was bothersome to him. He clearly conveyed to me that it was my own fault for not knowing some arbitrary circumstance that was applied only to the detriment of my account and not the original wire which was in fact cancelled. 
In addition, I was never given an explanation as to why there were XXXX XXXX debits under the presumption that the first XXXX could not be returned. 

I was not going to be run around any further so we ended the conversation. To be perfectly transparent he did say there would be an investigation which he would conduct in an unspecified time frame with no idea of when it might produce a result.I was further told that they contacted the other bank involved, XXXX, and have not had a response, therefore I should take it up with the other bank myself. 

On Tuesday XX/XX/XXXX I will be meeting with a local branch manager who will hopefully obtain some clarity on the matter and resolve it. 

Perhaps a source of more minor frustration is that for the long hold periods I would often have to listen to some self serving advertising explaining to me that according to a XXXX XXXX survey Capital One ranks number one in customer service. That message was not helping me any and I am certain you can see why. 

I then started making inquiries on what my remedies are available to me should this not be resolved. A high ranking executive at XXXX suggested I reach out to you so I am. 

In these times a XXXX XXXX XXXX dollar loss is devastating to my business and I need a greater amount of intervention to set it straight. Aside from the implication by the fraud specialist that I am not smart enough to know what I should not do ( which is horribly insulting ) I am not exactly a stupid man. I hold XXXX XXXXXXXX  and a XXXX XXXX in XXXX XXXX. I am also not a shrinking violet and will devote whatever time and energy I need to resolve this in an amicable fashion. Hopefully we can work this out together with the end results of : Returning the money that was taken from my account Increasing your awareness of how your employees behave Insuring that your customer service people can understand and speak English to English speaking customers Information you might find useful : Again my name is XXXX XXXX XXXX. 
My personal cell is XXXX The name on the account is XXXX XXXX XXXX XXXX XXXX XXXX XXXX I am hesitant to include my account number in an electronic communication but if someone calls me I will provide it. 

Please step in on this or direct someone in a higher position than those I have dealt with do so immediately. 

Thank you, XXXX XXXX XXXX, XXXX. 

cc : XXXX XXXX XXXX, via email ( This is updated information ) **As a post script to this communication the following occurred : I met at the branch with XXXX XXXX and his colleague XXXX who expressed an earnest desire to help. They called the same numbers I called and held for the fraud department. I was not privy to the details but when they hung up they reported to me that hopefully within ten to twelve business days the issue would be satisfactorily resolved. I then received a telephone call from XXXX ( no last name given ) who told me he would be listening to the recordings of the poor customer service I received. He would get back to me shortly. 

I waited the twelve business days as per the representation of XXXX XXXX and XXXX and after hearing nothing from XXXX I phoned him. 

XXXX reported that he indeed reached out to the fraud XXXX who was disrespectful to me and agreed that he was in need of coaching, and that steps were being taken to direct him. He then told me he did not know why I was told this would be resolved in ten to twelve business days because it could take much, much longer depending on the circumstances. I told him I was confused. XXXX told be he would reach out again a few days later to update me, which he did. 

On the updated call he told me that the ten to twelve day time period I was quoted was not for the resolution of the issue ( as I was definitely told ) but for Capital One to reach out to the recipient bank of the fraudulently induced transfer. That was not what I was told at the branch, so this is yet ANOTHER miscommunication which indicates that the right hand doesnt know what the left hand is doing at Capital One. 

XXXX informed me that Capital One reached out to the recipient bank with no response. I was also told that the recipient bank received a hold harmless letter. I took that to mean that the recipient bank was informed that if they returned my money Capital One Bank would not take action. The question that was not answered was what motivation, if any, would the recipient bank have to return the money because as I see it they would have none. I did not receive an answer to that question. 

XXXX supplied me with two email addresses ( no names ) of places to send subpoenas to and make further inquiries. He recommended I contact law enforcement. He told me my case would remain open for 45 days. I remained patient and civil to XXXX who was available and responsive but ultimately unhelpful because what I was coming to understand was : There is nothing Capital One Bank could do for me except ask the recipient bank to return my money, which I believe is extremely unlikely. The other advice essentially boiled down to contact law enforcement and handle this yourself, which is wholly unacceptable. 

The case will remain open for forty five days I was told. Rhetorically I do not see how waiting an additional thirty or so days will change what is already a bad outcome. I am anticipating being told that I will very politely be advised We did everything we could do, which is essentially advance a few correspondences asking for the return of my money which will continue to be ignored. 

As I have tried to communicate previously I am not unintelligent as your fraud specialist suggested. I will continue to pursue this using every possible remedy available to me, through law enforcement, through banking regulatory organizations, by private counsel, and by seeking attention from the media to alert other consumers as to the type of runaround I am receiving. 

While XXXX is researching the possibility of my receiving help from the FDIC, he speculated this help might not be available to me because I willingly wired funds albeit under criminal control. I think this is preposterous but XXXX is a diligent researcher and an excellent communicator so I am sure he will deliver the results of his inquiries when he receives them, albeit likely that it will be more bad news. 

I would like not to believe that the totality of action that Capital One Bank is willing to take is to ask the bank who received funds I was defrauded out of to please give it back. However, that is what I am being told. I can not believe that Capitol One Bank would treat a customer of long standing duration in such a desultory and dismissive way. This attitude coming from a bank which lauds itself while on hold with customers bragging about how they are unsurpassed in customer service. Excuse me if that does not ring true with me. 

While I appreciate that XXXX is doing what he can, he is not the man in charge. You are. I am a little person in the hierarchy of the banks priorities or at least I have been made to feel that way. However, it is my full intention to grow to be a person of influence in the scheme of what banks do to people who are the victims of criminal activity. 


Please help me. 




XXXX XXXX XXXX, XXXX.