Consumer complaint received 2022-02-26
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: JPMORGAN CHASE & CO. (FL)

On or about XX/XX/22 someone approached me on XXXX marketplace to purchase and item I had listed for sale. 

On or about the same date they offered to pay for the item and would include shipping/moving company costs to pick up and transport the item to have it donated to someone in need. 

On or about the same date the person sent me a picture of a check drawn on a commercial account marked for electronic deposit only and the check was pre-endorsed with my signature on the rear. They paid an additional {$1000.00} for shipping/transporting the item ; {$1300.00} in total. The buyer was going to arrange to a moving company to pick up the item. The shipper was scheduled to come the following day. I deposited the check via the remote online check deposit feature of Chase, my financial institute. The buyer send me another instant message providing me with the shippers XXXX account information where to send the payment and asked that if they paid me the additional money if I would be okay with paying the shipping costs until the check cleared. 

Approximately the following day I received an instant message on XXXX that I would have to pay the shipping company {$1000.00} BEFORE the shippers would pick up the item. Since I had already been paid and the check deposited, I initiated a payment through XXXX, based on information and belief that my bank had properly accepted my deposit of the check which I was provided and had deposited using my banks remote deposit method and trusting in my banks deposit system, fraud detection systems/measures, and XXXX  protections XXXX The bank had not flagged or advised/notified/noticed me that the check might possibly be invalid or fraudulent. 

The following day I received notification from my bank that the check deposit was not applied or credited to my account because the check was fraudulent. I contacted the bank to attempt to cancel the money transfer and/or to reverse it. Chase customer service informed me that it was not possible since I authorized the transfer. I only authorized it due to the fraudulent representations by the buyer, the information and believe that Chases electronic remote deposit system and its security measures to detect fraudulent sources of funds, and the banks guarantees Protections and Insurance were all valid. I believed the check was good and that Chase was my financial guarantor. I did NOT, however, AUTHORIZE any transfer based on FRAUD from the buyer or by Chases confusing and confounded lacking guarantees.

Chase refused to protect their customer and offer any type of assistance or mechanism to investigate the fraudulent check and XXXX recipient. Chase advised me that their fraud protections dont extend to or cover XXXX or XXXX type transactions. 

Chase does not have have adequate, prominent, conspicuous notices of such limits on its protections. I was under the belief that my property in the form of money was protected while in deposit with Chase and was federally insured under the XXXX  
Something needs to be done to put a stop to these unlawful disclosures that are not readily apparent to all who do business with banks and money transfer applications/services. The banks might well be involved in these violations since they limit their liability and protections of their customers funds. 

The fraudster, XXXX and Chase, my bank, has defrauded me of {$1000.00}. My money was insured and protected by Chase. I detrimentally relied on their remote deposit method, their fraud detection security measures and their guarantee of protecting and insuring my funds in their possession.