Consumer complaint received 2024-07-15 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO.
State: CO

Complaint narrative:
Detailed Account of Fraud Incident and Chase Bank 's Handling On the night of XX/XX/year>, at XXXX PM, an unknown individual hacked into my FanDuel account. Within XXXX minutes, they conducted XXXX unauthorized transactions, totaling {$9400.00} from my Chase bank account into XXXX. The transactions began with a {$25.00} withdrawal, followed by XXXX {$100.00} withdrawals, and another {$25.00} withdrawal after the {$100.00} attempts started to decline. They then attempted to make XXXX {$900.00} withdrawals, and a final {$5500.00} withdrawal. I discovered this activity on XX/XX/XXXX, around XXXX PM, and immediately contacted both XXXX and Chase. 

XXXX confirmed the fraudulent activity and reversed the transactions. They removed {$10000.00} from my XXXX account via manual adjustment and emailed me to file an ACH related fraud dispute with my bank in order to recover the funds. Heres a detailed timeline of my interactions with Chase : 1. XX/XX/XXXX, XXXX XXXX  : Discovered fraudulent transactions and contacted XXXX, who told me their accounts team would be in contact pending their internal investigation. 
XXXX. XX/XX/XXXX : Went into a local Chase branch to discuss the situation and was told to call fraud department. Called that night and filed an initial fraud claim with Chase over the phone. This claim was intended to cover all transactions. However, they only included XXXX of the XXXX transactions. XXXX began reversing/declining the fraudulent transactions. 
XXXX. XX/XX/XXXX : XXXX completed their investigation, confirmed the fraud, and sent me an email telling me to file a dispute with my bank in order to recover funds. I added this email to my claim. 
XXXX. XX/XX/XXXX : Chase denied my initial claim, citing prior authorized transactions with XXXX. I had clearly stated in my initial claim that I had previous valid transactions with XXXX, but these XXXX transactions were unauthorized. I was never given a provisional credit. I called Chase customer service 4 times after this. The first XXXX Chase agents said their was nothing that could be done, regardless of the email confirming fraud from XXXX. The XXXX Chase agent I spoke to heard about the conclusion XXXX made and reopened the claim, adding in notes that I had previous business with XXXX, and not to resolve the claim based off of that as had been previously done. 
XXXX. XX/XX/XXXX : Even with notations and additional evidence, including an email from XXXX confirming the fraud, Chase denied the claim again for the same reason ( Prior authorized transactions with vendor ). I called Chases fraud department multiple times, explaining the situation and emphasizing XXXX confirmation of fraud. I was then told that policy dictated that it could not be reopened, as it had been looked at twice. This was regardless of the fact that an error likely occurred. 
XXXX. XX/XX/XXXX : Visited a Chase branch and explained the situation to a branch manager, who escalated the case. The manager assured me I would be able to communicate directly with the fraud team to ensure the evidence was reviewed, as it was a fully escalated case. She also added another note to the file that I had prior authorized transactions with XXXX, as well as faxing in copies of all evidence to ensure that it was seen during review. 
XXXX. XX/XX/XXXX : Received a call from XXXX, which I missed, informing me that the claim was denied again, citing prior authorized transactions once again. The denial letter itself was dated the day before, on the XXXX of XXXX. I was never given the chance to communicate about my claim, as the call I received was after it was closed. 
XXXX. XX/XX/XXXX : I was able to speak with a customer service agent in the fraud department. They informed me that I needed to seek out a refund from the Merchant, along with confirming that the evidence was not considered, as their claims department was dependent on an algorithm to make the decision. It was also confirmed that Chase did not reach out to XXXX regarding my claim at any point. 

Throughout this process, Chase failed to adhere to Regulation E guidelines : Misclassification of Transactions : Ignored clear evidence and documentation, repeatedly citing prior valid transactions as the basis for denial. 
Failure to Investigate Adequately : Relied on algorithms without reviewing submitted evidence or contacting XXXX for verification. 
Improper Handling of Error Resolution : Did not provide provisional credit, and there was no meaningful communication or follow-up investigation. 

XXXX recovered the fraudulent funds and explicitly instructed me to seek reimbursement from Chase for the given situation. Despite this, Chase consistently closed my claims without proper investigation, leaving me to bear the full financial loss.

According to Regulation E and Chases own terms and conditions, Chase is responsible for : Investigating the claim promptly and thoroughly. 
Communicating the status and resolution of the claim in a timely manner. 

Shifting the responsibility to the merchant is not appropriate, as the bank has the duty to protect the customer and handle unauthorized transaction claims. 

As of XX/XX/year>, I have received no resolution or reimbursement for the $ XXXX in fraudulent transactions. Chases repeated denials and failure to follow proper procedures under Regulation E have left me financially burdened and without recourse. 

Please feel free to reach out with any questions, or if there is anything I can do to help.

Company response to consumer: Closed with explanation