Consumer complaint received 2025-07-24 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: REGIONS FINANCIAL CORPORATION
State: FL

Complaint narrative:
In XXXX, I was reached by individuals, acting on the behalf of and/or through the Internet-platform XXXX. The platform was completely anonymous and did not provide any details about their license or regulation. They also have not provided information about their parent company, company address, contact number, and email address. Notwithstanding the foregoing, the individuals who contacted me have explained to me and made me believe that their platform and its operator are completely licensed and qualified to trade regulated financial products and to provide financial advices for the benefit of an unlimited number of individuals. Being extremely pushy and aggressive in their approach towards me and exploiting my lack of special knowledge and skills, these persons persuaded me that they are completely legitimate, which influenced also my decision to invest substantial amounts on their platform. 

The website XXXX  were designed to maintain and exploit this belief, especially in average consumers who lack specialized knowledge and are inexperienced in this type of trading. For example, they contain information that their employees have years of experience as financial brokers, that the team has the necessary qualifications, and that the proposed trading is in full compliance with the applicable law, including in the field of anti-money laundering measures.

However, there have been published numerous warnings against said platform that clear evidence that the platform XXXX, do not have a license to trade regulated financial products such as they advertise on their sites.

Deceiving me and promising substantial and rapid return of investment, the unlicensed financial broker demanded me to initiate series of payments within short period of time.

While I was deceived that these payments are for funding my segregated financial investment account, none part of these transactions was ever used for financial trades. In consideration of the beneficiaries and the lack of financial brokerage license of XXXX it is impossible that the unlicensed brokers maintained segregated financial investment accounts of their clients. Therefore, I assume that all payments were laundered by the Merchant and I was put in deceit that I can really place trades and participate on regulated financial markets.

For a certain period of time after opening my imaginary investment account, I had access to my accounts with XXXX. After a while, my personal profile was closed without my consent, and all my attempts to get my funds back into my " investment '' accounts were unsuccessful.

As a result of the interaction with the aggressive Merchant, I lost XXXX XXXX USD ( XXXX XXXX US Dollars ). The payment was initiated through my account with Regions Bank. Regions Bank never warned me about potential risks associated with that payment. 

I have tried to resolve the issue with Regions Bank. On XXXX, a Letter of Demand claiming compensation was sent to the bank. As of the date of this complaint, the bank failed to provide me with a feasible response or feedback.

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