Consumer complaint received 2025-03-25 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: TRUIST FINANCIAL CORPORATION
State: VA

Complaint narrative:
The Federal Reserve and Consumer Financial Protection Bureau ( CFPB ) To seek redress for fraudulent banking practices and failure to safeguard account holders. 
III. UNDISPUTED MATERIAL FACTS XXXX. XXXX XXXX XXXX XXXX held business accounts with SunTrust Bank, including account ending in XXXX and account ending in XXXX. 
2. Federal contract payments intended for Plaintiff were unlawfully diverted to unauthorized accounts associated with XXXX XXXX XXXX XXXX XXXX XXXX XXXX ), XXXX XXXX, XXXX XXXX, and XXXX XXXX  XXXX XXXX. 
XXXX. The payments in question contained XXXX XXXX XXXX XXXX ( XXXX ) and contract award number, explicitly verifying that the funds were designated for XXXX. 
XXXX. SunTrust Bank had an obligation to verify the authenticity and intended recipient of federal check deposits through automated and manual review processes. This includes name-matching procedures, endorsement verification, fraud monitoring systems, and adherence to the Bank Secrecy Act ( BSA ) and Anti-Money Laundering ( AML ) laws. 
XXXX. Defendant permitted the diversion of federal contract payments intended for XXXX into unauthorized accounts without conducting proper due diligence. 
XXXX. Plaintiff has submitted XXXX XXXX XXXX  XXXX to the FDIC, which explicitly identify Plaintiffs XXXX as the intended recipient of the federal funds, yet XXXX allowed these funds to be deposited into an unauthorized account. 
XXXX. SunTrust Bank had a legal duty to investigate these discrepancies and prevent the misdirection of federal contract funds. Their failure to do so is a clear violation of the Bank Secrecy Act, XXXX regulations, and XXXX Article XXXX. 
XXXX. XXXX XXXX XXXX worked with a local XXXX employee, XXXX XXXX XXXX, Vice President, Commercial Banking, and XXXX XXXX, mail XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX  XXXX. 
XXXX. A XXXX XXXX, such as XXXX XXXX XXXX, XXXX have had the ability to manually override automated fraud detection systems and approve questionable transactions, bypassing standard security measures. 
XXXX. XXXX detection red flags from XXXX through XXXX were ignored, which is highly unlikely without manual overrides by bank personnel. Given that modern fraud detection systems rely on automated alerts, it is implausible that this fraud went undetected unless XXXX employees manually bypassed security controls. 
XXXX. XXXX Banks failure to detect and report these fraudulent activities suggests either gross negligence or willful participation, as federal banking laws require immediate investigation and reporting of suspicious activity. 
IV. DEMAND FOR IMMEDIATE ACTION Based on the clear evidence that SunTrust Bank ( XXXX ) failed to act upon red flags and allowed the diversion of federal funds, Plaintiff formally demands : 1. A full forensic audit of all transactions related to the misdirected payments.

2. Immediate return of the funds unlawfully diverted to XXXX XXXX XXXX. 
XXXX. A written response from XXXX explaining : o Why funds intended for Plaintiffs XXXX were misdirected. 
o What internal controls failed to prevent this fraud. 
o Whether a Suspicious Activity Report ( SAR ) was filed regarding these transactions.

4. Regulatory enforcement from the FDIC, requiring XXXX to correct its XXXX and fraud monitoring failures. 
V. LEGAL REMEDIES AND DAMAGES REQUESTED As a result of Defendants actions, Plaintiff suffered significant financial harm, including : Monetary damages for the misappropriated federal contract funds. 
Treble damages under the RICO Act ( 18 U.S.C. 1964 ( c ) ).

Punitive damages for gross negligence and breach of fiduciary duty.

Attorneys fees and litigation costs. 
A mandatory forensic audit of all transactions linked to the fraudulent accounts. 
A court order compelling Defendant to implement compliance reforms to prevent future fraudulent activities. 
VI. CONCLUSION Plaintiff has provided clear, undisputed evidence that SunTrust Bank failed in its legal obligations to prevent and investigate fraud, resulting in financial harm. No genuine dispute of material fact exists, and XXXX is entitled to judgment as a matter of law. Accordingly, XXXX respectfully requests that this XXXX XXXX summary judgment in favor of XXXX XXXX XXXX and award the requested relief. 
XXXX. CERTIFICATE OF SERVICE I hereby certify that a true and correct copy of the foregoing motion has been served upon Defendant SunTrust Bank ( now XXXX Bank ) via certified mail and electronic service to its registered agent.

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