Consumer complaint received 2025-03-05 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: TD BANK US HOLDING COMPANY
State: VA

Complaint narrative:
Reporting two XXXX XXXX wires to TD Bank from my XXXX XXXX account of {$21000.00} ( XX/XX/XXXX ) and {$62000.00} ( XX/XX/XXXX ). 

Refer to the 3 attached files as well!

First, my family and I have been threatened of being harmed by your customers and their ecosystem of team members. You let criminals into your banks and they know our names, address and more about us due to using a story of they are shipping things to us / victims and need our address and phone.

With that we will not stop until we get justice and made whole, with the help of the CFPB and other agencies like major media to the XXXX XXXX XXXX XXXX. You should consider this when making your decision to do the right thing! 

The Permanent Subcommittee on Investigations report dated XX/XX/XXXX, by Chairman XXXX XXXX, United States Senate defines scam as : Scams include instances when a consumer is tricked or persuaded into authorizing a payment for a good or service that is never provided. 

I report that all services I paid for have never and will never be received! 

I have experienced much of what you ( the Consumer Financial Protection Bureau - CFPB ) report of in your XX/XX/XXXX lawsuit against XXXX XXXX XXXX XXXX / XXXX ( court case # XXXX ). This case shows banks let these criminals into their banks not us. Worse yet, we have been threatened of being harmed by your customers! 

TD Bank and all others : Please read this and the attached documents in their entirety to learn the full details and extent of this crime/s ( induced fraud, authorized fraud, scams, identity theft ). 

I have learned ( after the fact ) that at least 3 - 7 banks have known about this problem for years ( read the lawsuit identified above ) and that the banks are knowingly opening up accounts and then blaming the victims ( the banks innocent customers ) for working with thieves, the customer/s the bank/s opened up the account for. 

Because of the " Know Your Client '' laws the banks make the victims ( me included ) think and feel it is safe and secure to use the bank services ( XXXX XXXX bank wires ) to other banks/ customers only to now learn after the fact that the banks knew of these criminals for years and never warned the customers. The criminals were allowed to opened up bank accounts with fake ID 's, documents, credentials, aliases, fake nonexistent businesses names ( using names very similar to real business ), which if we can find this out the banks certainly should have caught this and denied the account. The banks failed to protect its customers, failed to do basic verification on the criminals and the fake credential they use, causing me financial and emotional harm to say the least. 

I filed fraud claims for each of these induced fraud XXXX Wire transactions with XXXX XXXX on / about XXXX of XXXX only to experience much of what you ( CFPB ) report of in your XX/XX/XXXX court case identified above ). 

But for the Banks " Know Your Client '' requirements under the law we would NEVER had wired funds to their bad actor / criminal customers they are allowing into their banks as customers. 

Why were we not told about these findings in the next paragraphs as this is what has happened to us as well? : The CFPB alleges widespread consumer losses since XXXX XXXX launch due to the platforms and the defendant banks failure to implement appropriate fraud prevention and detection safeguards. The CFPB alleges that XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, and XXXX XXXX XXXX violated federal law through critical failures including : - Leaving the door open to scammers : XXXX limited identity verification methods have allowed bad actors to quickly create accounts and target XXXX users. 

- Allowing repeat offenders to hop between banks : XXXX XXXX XXXX and the defendant banks were too slow to restrict and track criminals as they exploited multiple accounts across the network. Banks did not share information about known fraudulent transactions with other banks on the network. As a result, bad actors could carry out repeated fraud schemes across multiple institutions before being detected, if they were detected at all. 

- Ignoring red flags that could prevent fraud : Despite receiving hundreds of thousands of fraud complaints, the defendant banks have failed to use this information to prevent further fraud. They also allegedly violated the XXXX Networks own rules by not reporting fraud incidents consistently or on time. 

- Abandoning consumers after fraud occurred : Despite obligations under the Electronic Fund Transfer Act and Regulation E, the defendant banks failed to properly investigate XXXX customer complaints and take appropriate action for certain types of fraud and errors.

Company response to consumer: Closed with explanation