Consumer complaint received 2025-08-24 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: JPMORGAN CHASE & CO.
State: GA

Complaint narrative:
On XX/XX/year> a revocation POA was presented to XXXX for an account with an active durable POA dated XX/XX/XXXX, XXXX. The Agent, XXXX XXXX, on the initial durable POA alerted Chase Bank of the possibility of fraud. A JAG Officer suggested, XXXX XXXX, XXXX XXXX in XXXX XXXX, immediately present a copy of the initial durable POA to the bank manager in XXXX XXXX. This was escalated and she received a formal letter on XX/XX/year> advising that the POA was revoked in favor of the revocation POA presented. On XX/XX/year>, we found a copy of the revocation and as it was suspected, the document was fraudulently done. As told to us and to the branch manager, XXXX XXXX was presented with a document by her husband and told to sign, and that she did, however the document was witness by interested parties, i.e., her husband and his cousin and notarized by the cousins Granddaughter. Point to note, the Durable POA explicitly noted that although she was married to XXXX XXXX, she deliberately wanted her Grand child to be responsible for her finance. On XX/XX/year>, we immediately had a new POA in place signed, notarized and also recorded in XXXX XXXX, FL. 
On XX/XX/year>, XXXX XXXX, XXXX XXXX and XXXX XXXX visited the Chase Bank in XXXX XXXX. The Bank Manger was distressed and immediately saw the fraud. We spent about 1.5 hrs there with XXXX XXXX responding to all questions, without coercion and duress safeguards were set in place to protect her from this happening again. We also asked the Bank Manger to advise their legal department as to the negligence as this we considered a teachable moment on spotting fraud. It appears while he fixed the accounts, he did not escalate the fraudulent POA as promised.. It was not until XXXX XXXX spoke to a knowledgeable Bank Officer XXXX XXXX XXXX in XXXX GA did we realize that the new POA was not on file, and that the fraudulent POA was never reported to the bank officials. We were advised the new POA was accepted and when asked about the fraudulent POA, XXXX XXXX advise that there was not response from legal on the matter. Then on XX/XX/year>, we received a letter advising us that the accounts were being closed under the Bank Secrecy Act ( BSA ). The Agent is one that pointed out the fraud to the Bank. While the BSA allows banks to close accounts for suspicious activity, this does not shield them from liability for their initial negligence in accepting a fraudulent document. has a duty of care to its customers. By accepting a fraudulent POA, the bank failed in this duty, causing harm. The bank 's failure to verify the POA 's validity is a negligent act. The bank is expected to have procedures to detect forgery or questionable execution circumstances. The Bank is misusing the BSA as a cover to justify closing an account due to their internal error, that is the discovery of its own failure as a legal reason to close the account. Giving us 15 days to transfer foreign pensions is a clear violation of the act. Monies were taken from her account during the process that needs to be returned and we intent to seek legal counsel on the matter.

Company response to consumer: Closed with explanation