Consumer complaint received 2022-06-27 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: JPMORGAN CHASE & CO.
State: NY

Complaint narrative:
This is a complaint about how ChaseXXXX and XXXX handled the theft of {$37000.00} from my checking account over the period of XX/XX/XXXX to XX/XX/XXXX. I have detailed records of the theft ( s ) which I'll give you if you wish.

During that time, a thief acquired my banking information, I believe by stealing the phone from a former personal assistant. The thief then created an account the LOOKED as if it was personal assistant 's account ( However, a close look at records shows it to be a different account ). The thief then very carefully siphoned money out of my account in dozens of small increments over the course of nearly a year. 

l live in XXXX XXXX XXXXXXXX. In XXXX of last year, filed a police report with the city 's 34th Precinct. That case is still open, though moving very slowly because of XXXX. 

My complaint to you is that Chase and XXXX could not have done less or been more dismissive in addressing my case. Over the course of three months, I spoke to a half dozen Chase associates, in person and over the phone, in a process that took well over 30 hours. I TRIED to speak to someone from XXXX but the company 's fraud line was disconnected. The company was unreachable on-line, or by any other means.

Ultimately, Chase officials told me that I had authorized the thefts because they had come from a one-time authorized phone. Chase 's failure to use security systems to verify whether this phone was still authorized ( it had been years since it had been used ), or to flag any of the very obvious and very suspicious transactions is one aspect of my complaint. A second is that XXXX maintains no security over its application, and does not warn its customers of potential dangers of using its service. A third is that Chase 's misrepresents XXXX to its customers. Signs in my branch office and on-line urge customers to use XXXX for payments. But, when I spoke to associates in their security offices, they said that XXXX should only be used with close family and friends, and shamed me for misusing it. ( Of course, I didn't " use '' XXXX to make ANY of these payments in the first place. ) But, the most pressing nature of my complaint is that neither Chase nor XXXX did anything to help me track down to whom my money had been transferred. Their callous indifference to the loss of their entire checking account of a loyal customer of 44 years ( I opened my account at 14 to save my paper-route earnings ) was crushing. 

At the time I first learned of how XXXX had been used to steal money from me, I didn't have any way of explaining to others what had happened. Since that time, two reporters from The XXXX  XXXX  XXXX have written a series of articles documenting how XXXX 's incredibly shoddy security measures have led to dozens of New Yorkers losing their money. Because of those articles, some bank customers haver seen their money returned. 

In a perfect world, I would like the Bureau to help me do the same for me. Last XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, and part of that {$37000.00} was supposed to be used to begin my retirement with a vacation, and to start a consulting business. Those things haven't happened, of course. 

But even that's not possible, I call on the Bureau to do more to stop banks like XXXX and XXXX from selling dangerous products like XXXX 's Application. What they're doing is wrong. It needs to be regulated. 
I

Company response to consumer: Closed with explanation