Consumer complaint received 2024-11-25 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
I am reaching out in desperation after becoming the victim of a wire fraud scheme during a home purchase. Your reputation for assisting consumers in such matters gives me hope that you may be able to provide guidance or advocacy. 

In summary, I was in the process of closing on a home in XXXX XXXX, and the scam coincided with critical moments in the transaction. Just before wiring my down payment, I received a call and an email, purportedly from my escrow company XXXX XXXX, providing wiring instructions. Trusting the information, I went to my local Chase Bank and wired the funds. Shortly after, I learned from the legitimate escrow officer that they had not received the money. Upon investigation, we realized the instructions were fraudulent. 

I immediately filed a wire recall request with Chase, and fortunately, the recipient bank -XXXX XXXX in New York flagged the account and to my belief is holding the funds pending Chases submission of a Hold Harmless letter. However, despite my urgent efforts and countless follow-ups, Chase has failed to deliver this letter, citing internal delays and conflicting departmental updates. I have no updated from recipient bank XXXX XXXX  either. 

Heres the timeline : XX/XX/XXXX : Wire was sent. 
XX/XX/XXXX : Recipient bank acknowledged the recall request and flagged the account. 
XX/XX/XXXX onward : Chase claims the letter was prepared and sent. 

The lack of coordination within Chases claims and wire research departments has made this process agonizing. Representatives provide inconsistent information and calls often end without resolution. Despite the FBIs involvement and acknowledgment from the recipient bank, Chases inaction is the only barrier to recovering my funds. 

This ordeal has left me emotionally and financially drained, questioning the safeguards banks have in place for their customers. Fraud in real estate transactions is becoming more sophisticated, and institutions must adapt to protect consumers. 

I implore you to shed light on this issue. I believe your voice can highlight the systemic failures that leave victims like me shouldering the entire burden. 

Thank you for considering my case. Any assistance or direction would be greatly appreciated. 

I have all relevant information and additional evidence to support my case. 

1. Fraudulent Email Details The fraudulent email came from XXXX, not the legitimate .com domain. 
CCed recipients XXXX XXXX and XXXX XXXX used XXXX, not XXXX. 
The email arrived shortly after a legitimate call from the escrow agent, which created a false sense of urgency. 

2. Account Attacks At the time I opened escrow, my email account experienced multiple unauthorized login attempts.

Ive attached screenshots showing these suspicious activities.

3. Claims Department Failures Attached are screenshots of my interactions with Chases claims department. 
One representative advised me to go to a branch to handle the hold harmless letter, which was incorrect. 
Another assured me the letter had been sent last week, but as of today, it remains unsigned and unsent. 

4. Chase Executive Office Interaction I contacted the Chase Executive Office in an effort to escalate my case. Unfortunately, their first question was how I obtained their phone number, rather than focusing on resolving my issue. This lack of urgency and accountability was disheartening. 

5. Delays in Hold Harmless Letter Despite the recipient bank flagging the fraudulent account immediately, Chase has delayed providing the required hold harmless letter. These delays have caused significant stress and uncertainty, especially since the recipient bank is ready to proceed once they receive the letter. 

6. My Actions to Date Filed XXXX and FTC complaints. 
Reported the incident to the FBI, where Special Agent XXXX XXXX has been exceptionally supportive and is continuing to follow up. 

Filed complaint with FDIC Filed complain with NY Department of Financial Services Filed complain with CA Department of Financial Protection and Innovation In touch with XXXX, XXXX XXXX XXXX  and XXXX XXXX In touch with XXXX XXXX and his producers from XXXX XXXX XXXX XXXX XXXX Sincerely, XXXX

Company response to consumer: Closed with monetary relief