Consumer complaint received 2025-01-26 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Incorrect information on your report — Information belongs to someone else
Company: TRUIST FINANCIAL CORPORATION
State: CA

Complaint narrative:
Description : Scam/Fraud/Identity theft perpetrated by Fraudsters to commit fraud and orchestrated identity theft by using both lenders and innocent victims ( victimized Senior Citizen ) with good credit, Fraudsters manipulate or lure ( Scam ) them unknowingly using their personal information to acquire personal loans in effort to transfer funds into their international account XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. Local authorities and the FBI ( ic3 ) are fully aware of all bank information and recipients involved in this fraudulent activity. 

How this got started? 
During the months of XXXXXXXX XXXX XXXX XXXX XXXX XXXX The victim was introduced to an individual who was considered an expert on Crypto ( Node ) trading / platform, went to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, her name was XXXX XXXX who collaborated with an analyst team to analyze data Nodes, and historical data using AI ( Artificial Intelligence ) to analyze the data, goal is to improve the profit probability ( avoid risk and increase confidence level of 95 % ). They have a sophisticated software trading platform embedded into a known App called XXXX XXXX, which is still active today. They even provided practice trading platforms. The point of all this is it was sophisticated, impressive and seem very legitimate. When searching on XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX as legitimate. Mind you, this wasn't very long ago. XXXX and her analyst team was extremely convincing and spent a lot of time explaining every step and detail of the process, which included charts and graphs. However, at the end it turned out to be all fake ( Scam ). The point of realization was when it was time to withdraw the funds. They would delay withdrawal transactions, give excuses and use delay tactics to avoid paying the money back as promised usually claimed it would take no more than 3 days, it felt like money was was being kept hostage from us, which was extremely frustrating. Keep in mind, they used delay tactics such as paying upfront Capital Gains tax, fees based on the percent dollar amount including profits, they even had us pay for a fee if the withdraw was above a certain dollar limit, to demonstrate their legitimacy they even went to the extreme of direct depositing funds into my checking account, they even showed they were using their own money to invest to show legitimancy ( fake decoy money ), unbenonsed since they controlled the software and created fake numbers ( editable ) to look like your local bank app. Also, when you XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX that it was a legitimate trading platform but the downside was it was unregulated. In efforts to regain my personal investment, the Scammers scammed information on my XXXX account and my life savings checking account number, which equated to XXXX XXXX XXXX. It's would be worth more now because it's compounded daily/annually during the course of my life. 

XXXX XXXX XXXX XXXX XXXX XXXX  was notified to assure legitimacy : Before this even started, I called my XXXXXXXX XXXX XXXX XXXX XXXX XXXX  and I told him what was happening or going on. He immediately claimed it was a scam but didn't take necessary steps to take precaution in order to emphasize the severity and realization ( the amounts were very substantial ). I was told by other XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  was supposed to notify the XXXX XXXXXXXX XXXX  in efforts to check it out before making any withdrawals since he was a fiduciary or not initiate any transaction until it was cleared and safe by the proper authorities at the Bank. Instead, he gave me the phone number to the XXXX transaction team and sent me on my way to conduct the transaction. 

Since the software looked very sophisticated ( advanced ) which is still on my phone, it had features similar to E-trade/Ameritrade, bank app and stock exchange trading chart and platform. For those that are familiar with XXXX XXXX XXXX, you are required to provide information bank account numbers for deposits/withdraws, and your Social Security numbers to report to the IRS, which seemed all legitimate. The Scammers/Fraudsters did acknowledge that they knew I had outstanding credit, which was a surprise that they even knew that level of detail. The Scammers/Fraudsters requested personal information from me, which they claim was required. They stated that the request was to show proof of my drivers license, proof of income, paystubs, W2 's etc. which seemed concerning at the time but I did not realize they were using my information to take out persona loans. At the time, I believed it was part of the process of getting my money back, which they kept assuring me that it was routine. They claimed it to be the outcome but it was all a Scam - lie/Fraud to steal more money from the banks. Since I thought it was part of the process, they directed me to do and say things where they convinced me was part of the policy and process. Today, with what I know now, if the banks personally made a real phone call to me/recipient bank ( fraud team ) and will declined the transaction as a preventative measure, it would be difficult and would have stopped any transaction or be put on hold for 2 to 3 days, the Scammers/ Fraudsters would be in a different line of business. The fact that everything is done with a Smart Phone App, they told me later that it can be hacked including wire transfers and switching IP addresses like phone numbers. The challenge for them is to find victims that have money in a bank, savings or retirement account that's accessible on an App or desktop. I believe that there is no security that can stop these Scammers or Fraudsters today. All or any mechanical devise can be hacked. An IT friend from my Banks should go the extra mile to first decline the transaction then validate the transaction to avoid issues in the future and have a 2 to 3 day or longer waiting period to stop immediate transactions.

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