Consumer complaint received 2025-11-26 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: UMB FINANCIAL CORPORATION
State: AZ

Complaint narrative:
I own, and am the XXXX XXXX of XXXX XXXX XXXX XXXX XXXX ( XXXX ), a XXXX  XXXX XXXX located in XXXX. XXXX XXXX XXXX XXXX was recently acquired by UMB Bank and my real estate trust account was moved over as of XX/XX/XXXX. I scheduled a web call on XX/XX/XXXX at XXXX to be shown the new online banking platform, as well as the new procedure for transmitting an ACH batch payment to my clients. Upon the UMB representative, XXXX XXXX ( XXXX ) sharing his screen on our web call, he stated he was logged into my online banking using my credentials so I could see the platform from my user interface. I immediately noticed a pending ACH transaction in the amount of {$180000.00}. I inquired about how this transaction could be pending since we had not yet gone over the proper instructions on how to process such a payment from the account. I had not yet been provided any secure access codes/tokens/etc that should be required to complete that transaction. A UMB representative stated the pending ACH transaction was originated between XXXX on XX/XX/XXXX. I immediately advised this was a fraudulent transaction that I did not authorize. XXXX sent me an unprotected word document entitled ACH Exception Form which he asked me to sign, but if I could not sign it, I could type my name in parentheses under the signature line. I did as instructed as time was of the essence to stop this pending transaction and sent the form to the email address provided at UMB Bank, but different from XXXX email I had been using. My online banking access was XXXX by UMB Bank the same day & the account was frozen/on hold. I heard from XXXX XXXX XXXX Team Lead XXXX with UMB ( XXXX ) later in the day saying they were working to report the file as fraudulent to the receiving bank ( XXXX XXXX  ) and that XXXX XXXX  had XXXX hours to either accept or reject the batch. UMB Bank did immediately put a provisional credit in my account to match the fraudulent XXXX transaction of {$180000.00} making my trust account whole. XXXX called me on XX/XX/XXXX in the XXXX stating he had received an email from me attempting to reverse the reversal and stated the fraudulent transaction should be pushed through. I informed him I sent no such email and the ACH transaction was most definitely fraudulent and asked him to forward me a copy of the email he received. Upon receipt of said email from XXXX, it was apparent to me it was not my same email writing style and it was also fraudulent. On the same day, Wednesday XX/XX/XXXX, I contacted an IT company I was currently in conversation with about moving my server to the XXXX & contracted them to check & secure my computer/systems. Monitoring of all my IT systems remain in place. 

UMB Bank was able to claw back {$67000.00} but then immediately removed their remaining provisional credit of {$110000.00} ( leaving my trust account short client funds in the amount of {$110000.00} ). 

I continued to get the runaround all week from UMB Bank on status updates as I could not see the banking activity online and the account was in frozen state of sorts wherein I provided them a list of outstanding checks that I had authorized so they would not bounce on my vendors and customers. I repeatedly asked to be escalated up to the next supervisor with UMB Bank and eventually contacted by XXXX XXXX XXXX XXXX Team Lead XXXX ( XXXX ). By afternoon on XX/XX/XXXX, I was told by XXXX UMB Bank could no longer speak to me, per their attorney/legal dept, until they had a meeting with UMB XXXX XXXX XX/XX/XXXX. 

I met in person with local UMB banking representatives ( XXXX, XXXX XXXX XXXX XXXX  XXXX  XXXX XXXX and XXXX XXXX UMB Branch Manager XXXX ) on XX/XX/XXXX as UMB Bank was going to provide in writing a transcription timeline of events on how this fraud has been handled, including plans to reclaim the additional missing funds. I asked for XXXX to explain a form he handed me and he explained that by signing this form I was requesting a return of a fraudulent ACH transfer from XXXX XXXX  and XXXX harmless XXXX XXXX  XXXX When I looked at the document, it clearly states that by signing this, I will hold harmless and indemnify UMB Bank, not XXXX XXXX. XXXX further explained that UMB Bank had to sign the same forms with XXXX bank and that UMB would greatly appreciate corresponding indemnity/hold harmless documents on file from XXXX for UMB Bank in order to pursue the remaining fraudulently processed funds. I declined to sign them. 

UMB Bank provided a XXXX page document, including details on the recovered and not recovered batch transactions in question, and ended with a list of demands from XXXX including indemnity and hold harmless statements for UMB Bank so they could work harder to get the rest of my money back, a statement or report by an independent third-party IT incident response team and an executed signature card and all other required account opening documents to be signed. Since my trust account was merged over from a different bank I have not signed any UMB Bank documents, all documents on file were signed with the previous bank. 

I have reached out to XXXX multiple times since Friday XX/XX/XXXX without response ; not a return email, text nor phone call. I am still missing {$110000.00} and have very limited access to my account with UMB Bank. 

I have attempted to file or have been successful in filing complaints with the FBI, XXXX Police XXXX, Arizona Attorney General, Arizona Dept of Insurance & Financial Institutions ( DIFI ), among others in an effort to get resolution and the return of nearly {$110000.00} of client monies. I have also retained legal counsel. To date, UBM Bank has not recovered any additional funds to make my account with them whole. 

XXXX XXXX XXXX XXXX XXXX began the process of opening a new account at XXXX XXXX XXXX XXXXXXXX ( XXXX ) on XX/XX/XXXX. New online baking access was established on approximately XX/XX/XXXX, and by XX/XX/XXXX we were again victim of ACH banking fraud, nearly $ XXXX. The funds from the new account at XXXX were sent to the same XXXX XXXX  as the previous fraudulent ACH transactions. Thankfully, XXXX was able to recover all of the fraudulent ACH transaction funds! 

Working with our IT company, it was determined that the hack came through another computer on the network, belonging to my previous business partner. IT found the point of entry and recovered a large amount of file logs showing the exact moves the hackers took to remotely access my desktop from the other computer. Some of the logs show nefarious activity as far back as XX/XX/XXXX. I was told that a forensic IT specialist will be to acquire IP addresses, etc for the hacker. That hardware/desktop has been removed from the Internet and is being stored for evidentiary purposes. 

We now have in place XXXX new desktop computers, XXXX new laptop, computers and our entire network is under XXXX hour monitoring from a secured network.

Company response to consumer: Closed with explanation