Consumer complaint received 2025-12-09 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: PNC Bank N.A.
State: IL

Complaint narrative:
Subject : PNC Bank failed to properly investigate unauthorized XXXX transfer caused by sophisticated imposter fraud and violated Regulation E Summary of the Issue : On XX/XX/year>, I was the victim of a sophisticated phone-based imposter scam in which criminals spoofed a legitimate XXXXXXXX XXXX phone number and coerced me into sending a XXXX transfer from my PNC account . I reported the fraud to PNC within an hour, but the bank refused to conduct a lawful investigation, ignored my documentation, and denied my claim without providing any written explanation. PNCs handling of my case violates Regulation E. 



Detailed Description of the Fraud : On XX/XX/year>, I received a call appearing to come from a legitimate XXXX XXXX  phone number. I verified this number online. Because I also have a XXXX account, the call seemed credible. 

At the time, I was picking up my children from school and was also expecting a call from my XXXX, which is why I answered the phone at all the situation matched my expectations and reduced my suspicion. 

The callers claimed that fraudulent XXXX transactions were already being processed from my XXXX account. They urgently instructed me to take immediate action to cancel the fraud by sending a XXXX transfer from my PNC account using a cancellation code. They asked my to transfer {$3500.00} from my savings acoount to my checking account so I could cancel that amount as it was my daily XXXX limit. 

When I said I was busy with school pickup and asked if I could call them back later, they insisted the situation was extremely urgent and that I must take care of it now or risk losing my funds. They used : High-pressure urgency Repeated warnings that my accounts were at risk Multiple transfers to different fake fraud agents Confusion tactics Reassurance that this was not a scam Claims that this was a standard bank security procedure The false statement that they were not asking for personal information This was a classic imposter fraud, and the transfer was not authorized in any meaningful sense because it was induced under deception, coercion, and fear. 
I realized shortly afterward that this was a scam and contacted PNC Bank within one hour to report the unauthorized XXXX transfer. 



PNCs Response and Regulation E Violations : Despite reporting the fraud immediately and submitting documentation ( including my letter and police report ), PNC did not : 1. Conduct a reasonable investigation, as required by 12 CFR 1005.11 2. Review my police report or detailed written account 3. Consider the impersonation and coercion involved 4. Provide any written explanation for their denial other than simply stating I authorized it. Note : Although the transfer was initiated by me, it was not authorized within the meaning of Regulation E because my consent was obtained through deception, impersonation, and coercion. I was misled into believing I was communicating with my banks fraud department and that sending the transfer was required to stop a fraudulent transaction. Therefore, my initiation of the transfer does not constitute valid authorization.

6. Provide provisional credit 7. Complete a compliant Regulation E investigation Instead, PNC repeatedly responded only with the vague statement : The transaction was approved. 

This is a conclusion, not an investigation, and does not meet Regulation E requirements.

Imposter fraud and coerced transfers are considered unauthorized electronic fund transfers under federal law, even if the victim was misled into initiating the transaction. 

I reported the fraud immediately, provided documentation, and was a clear victim of sophisticated impersonation techniques. PNC failed to meet their legal obligations at every stage.

Company response to consumer: Closed with explanation