Consumer complaint received 2024-11-04 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: FL

Complaint narrative:
Subject : Complaint Regarding Fraud Incident and Inadequate Response from USAA Bank To whom it may concern, I am reaching out to formally address an urgent matter involving a case of bank fraud and inadequate response from my bank, USAA. I have been a victim of fraudulent activity and, despite multiple attempts to resolve the issue with USAA, they have failed to safeguard my account or recover my lost funds. This negligence has led to significant financial loss and distress. 

Incident Summary On XX/XX/year>, I received a call from an individual posing as a USAA representative. This impostor informed me that there were red flags on my account, and funds had attempted to be withdrawn. They instructed me to visit a nearby physical bank, as USAA lacks a physical branch, to withdraw and deposit my funds into a new secure account they would create. Importantly, at no point did I share my PIN, password, or other account details, as they already had access to my account information. 

Preventive Measures Taken After this suspicious interaction, I contacted USAA immediately on the following day to confirm the legitimacy of this call. USAA verified that this was indeed an impostor and assured me they would red-flag my account. They advised me to change my PIN, username, and password, and I did so multiple times. I also followed their directive to unlink and deactivate any devices, as well as XXXX XXXX connections, to further protect my account. 

USAAs AssurancXXXX and Failed Security Promises On XX/XX/XXXX, a suspicious pending transaction appeared in my account, which I promptly reported to USAAs fraud department. Despite being reassured that my account was flagged and the transaction would be blocked, I later discovered that my entire balance was transferred out. I contacted USAA immediately, and they promised to prevent the transaction from completing. However, despite these reassurances, my funds were ultimately withdrawn without intervention. 

USAAs Failure to Take Responsibility When I called again on XX/XX/XXXX, a USAA representative informed me that they might hold me responsible for the loss, despite my following all their security instructions and diligently reporting each suspicious activity. USAA had ample opportunity to protect my account and prevent this loss, yet they failed to take timely action. I feel doubly victimized : first by the fraudsters and then by USAAs failure to secure my funds. 

Conclusion This entire experience has been distressing and financially damaging. I am seeking the BBBs assistance to hold USAA accountable for their negligence and to ensure my lost funds are restored. USAAs lack of action and delayed responses have severely impacted my trust, and I believe they must take responsibility for their oversight. 

Thank you for your time and consideration of this matter. I appreciate any assistance you can provide in ensuring that USAA upholds its commitment to protect its customers. 

Sincerely, XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation