Consumer complaint received 2024-02-06 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:
On XX/XX/2024, our business checking account was compromised at around XXXX. a wire template was created an authorized user was created and a wire for {$49000.00} was sent out, we informed the bank immediately at around XXXX and stated they would recall the wire and shut the account down. We immediately went to the bank following the call and as we were explaining the situation To the banker, there was XXXX additional wires for XXXX each. The banker had stated the fraud department was on the line said we gave a verbal authorization while we were sitting in front of the banker. The bank said they would handle it from there and took all the necessary steps on there end to retrieve the money back. This was about XXXX. We had called chase bank via telephone and the fraud department said no one filed a recall or recalled the wire at the bank and I had to get the banker on the phone to recall both of the XXXX at XXXX. I went back to the bank immediately and they stated they didnt have the option to recall the wire after we stated we had the ability to do it when we called in the first time and again after we left the bank and have all the time stamps when it was initiated. 

They told us to come back on Friday XX/XX/XXXX. 

On XX/XX/XXXX, the bank manager XXXX at chase XXXX XXXX XXXX XXXX XXXX ca XXXX informed us the claim have all been approved and we would be getting all of our money back {$99000.00}. She said come back Tuesday XX/XX/XXXX for more info. We went back XX/XX/XXXX and at the bank managers desk XXXX again informed us the claim has been approved letters have been sent to the receiving bank and well hear when the timeline for the money would be returned and that we dont need to worry about anything further because it was approved, but an hour before that the fraud team told me they recovered the first XXXX, and they are sending me a hold harmless agreement to sign for the receiving bank to release the XXXX. We then thought so if the first wire was recovered, why didnt the fraud dept lock and secure the accounts after the fact we had told them our account was compromised. We again went to the banker and she stated we would get all the money back 100 % just come back again next Tuesday for an update. 

During the wait we call in and the escalation team then said only XXXX was received not the first XXXXXXXX XXXX and When I called in XX/XX/XXXX, they at first claimed there was no update on any of the claims and we need to wait 30 days. After pressing them about the hold harmless agreement, they then said they sent out the letter on XX/XX/XXXX. I asked to speak to an escalation supervisor who then informed me the fraud claim was approved then later denied. Then after pressing him about the hold harmless letter he informed me it was for XXXX not XXXX and they need 30- 90 days before they have an answer. We keep getting the run around and no one seems to be telling us the truth and there have been multiple stories since the fraud occurred. We desperately need help as this money will keep our business afloat. Our account was comprised.

Company response to consumer: Closed with explanation