Consumer complaint received 2025-12-08 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: TRUIST FINANCIAL CORPORATION
State: CA

Complaint narrative:
I am filing a formal complaint regarding severe mishandling, non-compliance, and possible regulatory violations by Truist Bank in a cross-border wire transfer that resulted in USD 19,440 being credited to a fraudulent beneficiary account. Truists actions demonstrate : Negligence in beneficiary verification Failure in XXXX controls Failure to detect a mule-account Failure to follow XXXX XXXXXXXX investigation standards More than six weeks of non-response to formal return-of-funds requests This conduct directly prevented recovery of the funds and enabled the fraud to succeed.

1. Transaction Background XXXX XXXX XXXX ) Amount : USD XXXX Date of Remittance : XX/XX/year> Beneficiary Account : XXXX Routing Number : XXXX Receiving Bank : Truist Bank XXXX : XXXX Beneficiary Name Provided : XXXX XXXX XXXX XXXX XXXX  Address Provided by Beneficiary : XXXX XXXX XXXX, XXXX, MD XXXX The sender is XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. 
The XXXX received XXXX XXXX XXXX and XXXX XXXX XXXX intermediary bank ) confirmed the payment was credited to beneficiary. 


2. Evidence Showing the Beneficiary Account Is Fraudulent The scammer provided an account under the name XXXX XXXX XXXX XXXX  but : The beneficiarys company address XXXX XXXX XXXX XXXX XXXX does not match the bank address ( XXXXXXXX XXXX XXXX 
The real XXXX XXXX XXXX XXXX confirmed they do NOT hold any account at Truist Bank. 
The account-name does not match the true account owner, yet the wire was credited anyway. 
The scammer disappeared immediately after receiving the funds. 

This indicates major failures in Truists : XXXX onboarding Beneficiary-name verification AML/mule-account detection Fraud monitoring A corporate account with mismatched ownership should not pass KYC or be allowed to receive international wires. 


XXXX. XXXX Sent Multiple XXXXT XXXX Requests Truist Ignored Them XXXX officiaXXXX XXXX XXXXXXXX investigation messages were issued : XXXX # XXXX : XXXX stated : We have attempted to contact the receiving bank on several occasions requesting return of funds. No response received. 

XXXX # XXXX : Truist finally replied only : Return request denied. No beneficiary response.

This explanation is not valid under AML standards.

A fraudsters approval is not required to return funds under investigation.

Truists response suggests : Ignoring XXXX investigation procedures Not cooperating with XXXX investigations Allowing a mule account to operate Obstructing legitimate return-of-funds attempts XXXX. Timeline Showing Truists Non-Compliance and XXXX Weeks of Delay XX/XX/year> Wire transfer completed ; funds credited at Truist. 
XX/XX/year> First formal inquiry initiated by XXXXXXXX XXXX and XXXX. 
XX/XX/year> XXXX XXXX XXXX return request sent ; no response from Truist. 
XX/XX/year> XXXX XXXX sent ; still no response from Truist. 
XX/XX/year> XXXX confirms multiple attempts to contact Truist with XXXX reply. 
XX/XX/year> Truist finally replies : Return request denied. No beneficiary response.

This demonstrates : Truist ignored formal XXXX  requests for over XXXX weeks Truist failed to meet required XXXX response timelines Truists delay directly enabled the scammer to withdraw or disappear with the funds No beneficiary response is not an acceptable AML justification XXXX. Regulatory Responsibilities Truist Appears to Have Violated Receiving banks must : ( XXXX ) Verify beneficiary identity and name match Truist credited an international wire to an account whose name did not match the actual account holder. 

( XXXX ) Freeze or investigate suspicious funds Truist neither froze nor investigated the account despite : beneficiary name mismatch fraud indicators multiple XXXX return requests confirmed fraudulent activity ( XXXX ) Respond promptly to XXXX XXXXXXXX investigations Truist ignored XXXXXXXX XXXX requests for over XXXX weeks, violating standard banking procedures. 


XXXX. Requested Resolution ( Fair Resolution ) I request that the CFPB require Truist Bank to : XXXX. Provide a full written investigation report explaining : Why the name mismatch was ignored How this fraudulent account passed Truists XXXX onboarding XXXX Truist failed to respond for over XXXX weeks Why no beneficiary response was used instead of applying standard fraud/AML return procedures XXXX XXXX Immediately locate, freeze, and investigate the fraudulent beneficiary account XXXX. Refund the full USD XXXX to the sender, because the payment was credited to a fraudulent account due to XXXX compliance failures. 

XXXX. Explain XXXX breach of XXXX, XXXX, and consumer-protection standards XXXX. Disclose internal corrective or disciplinary measures to prevent recurrence A fair resolution is full reimbursement of USD XXXX and a comprehensive written explanation detailing how Truists delays, non-responses, procedural failures, and inadequate fraud controls directly prevented timely recovery. 


XXXX. Supporting Documents Available Upon Request XXXXXXXX XXXX XXXX XXXX XXXX XXXX  ) Debit Advice from XXXX XXXX XXXX payment credited to beneficiary record XXXXXXXX XXXX XXXXXXXX investigation messages Correspondence logs Evidence proving the account does not belong to the real XXXX XXXX XXXX XXXX This case involves cross-border fraud, XXXX concerns, and Truist Banks failure to follow required banking procedures. I respectfully request urgent CFPB review and intervention.

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