Consumer complaint received 2024-06-15
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO. (MD)

I am writing to formally lodge a complaint against Chase Bank concerning an unresolved wire fraud incident that resulted in a financial loss of {$35000.00}. The details of the incident and subsequent interactions with Chase Bank are as follows : Incident Details : Date of Transaction : XX/XX/XXXX Amount : {$35000.00} Originating Account/branch : XXXX, MD XXXX XXXX processed face to face Destination Account : Another Chase account allegedly opened at the XXXX XXXX XXXX  XXXX XXXX and or where the money was sent to On XX/XX/XXXX, the day I was scheduled to close on my house, I discovered that I had been scammed out of {$35000.00}. It appears that the title company was hacked, as I received wire transfer instructions that seemed legitimate, containing all the relevant details from the title company. Needless to say, I had no money to close on my house on that day, just a sheet with all the wire transfer information and whom it supposedly went to. 

Chase Bank 's Response : A customer service representative from another branch ( XXXX XXXX location ) reviewed the destination account and observed that the account was opened, but could not see any transactions entering or leaving the account, raising concerns about the whereabouts of my funds. 
I received out to the XXXX XXXX XXXX and customer service and they were not helpful. I was given the run around to include each time I called the toll free number. Most of the employees seem to lack knowledge or unaware of what to do or where to transfer me. 
I promptly filed a police report with the XXXX XXXX XXXX and provided the documentation to Chase Bank. Chase Bank informed me that the money could not be recouped or reversed. 
Additionally, upon later follow-ups there seems to be a lack of information to provide me. Information that I provided to chase before. Such as investigating officer, policy report number. Many details were not logged even after being questioned by representatives numerous times. I filled out a report in a branch, and provided at least XXXX reports telephonically. I also went back to the branch that I had process the wire to file a report as I was instructed to. 

Despite my repeated inquiries, Chase Bank failed to provide the results of their investigation for over XXXX  months. When I followed up, I was informed that the case was closed in XX/XX/XXXX. However, I was not notified of this closure or the findings of the investigation. 

Throughout this ordeal, Chase Bank was not helpful in resolving the issue. They consistently redirected me to " my financial institution '' to address the wire transfer issue, despite Chase Bank being the institution involved in both the originating and receiving accounts. 

My Concerns : The lack of transparency and communication from Chase Bank regarding the status and findings of their investigation. 
The inability of Chase Bank to track or recover the funds wired internally within their own institution. 
The possibility of internal fraud or a security breach that has not been adequately addressed or disclosed. 

Given the gravity of the situation and the significant financial loss I have incurred, I am seeking the CFPB 's assistance in holding Chase Bank accountable for their handling of this matter and possible refund of my money. I am requesting a thorough review of Chase Bank 's investigation and actions taken in response to this wire fraud incident. 

Thank you for your attention to this matter. 

They seem to do a very bad job at taking care of customers, but can give their CEO that gets paid a XXXX XXXX a XXXX mil bonus. I also do have copies of the documents to provide if neccesary