Consumer complaint received 2024-01-05 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
I have an account with Chase Bank and I initiated XXXX wire transfers through Chase Bank. The wire was sent to XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX these wires were sent to a brokerage firm to trade for XXXX XXXX 
XXXX wires in the amount of {$25000.00} XX/XX/XXXX and {$78000.00} XX/XX/XXXX were sent to : XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Recipient Acct # XXXX XXXX wire in the amount of {$25000.00} XX/XX/XXXX was sent to : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX Routing # XXXX Bank Address : XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Recipient Account # XXXX XXXX wires in amount of {$25000.00} XX/XX/XXXX and {$25000.00} XX/XX/XXXX were sent to Chase Bank accounts : XXXX XXXX XXXX XXXX, XXXXXXXX XXXX XXXX XXXX XXXX XXXX JPMorgan Chase Bank Routing # XXXX Bank Adress : XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Recipient Account # XXXX On XX/XX/XXXX, I came to know that these companies were fraud and I was scammed by the brokerage firm. I contacted local law enforcement and FBI. On XX/XX/XXXX, I initiated a wire recall through Chase Bank and I was told that it takes XXXX business days for them to conclude their investigation. On XXXX XXXX, I received a message from Chase Bank that the wire sent to the account with XXXX XXXX XXXX  is closed. They said that they are continuing their investigation with XXXX  XXXX XXXX and their own business account. On XX/XX/XXXX, I received another message from Chase that the XXXX  XXXX XXXX, where XXXX wires were sent is requiring a Hold Harmless Indemnification Agreement. I went to Chase Bank location in XXXX, XXXX  on the same day to see, if they wanted me to sign anything reference to the XXXX  XXXX XXXX request. After calling the fraud hotline from the branch, I was told that the Chase Bank is handling the issue and there is nothing they need from me. I called the online fraud department on XX/XX/XXXX and was told the their us no update and they are still investigating the matter. I did repeated calls to Chase Bank fraud line on XX/XX/XXXX, XX/XX/XXXX ( spoke to a supervisor XXXX ) XX/XX/XXXX and was told that the investigation is still ongoing with no update.Today XX/XX/XXXX, I called again and asked to transfer my call to a supervisor. I spoke to XXXX ( supervisor-escalation Department ). She said that Chase Bank is closing all my claims and will not investigate the matter since wires were initiated by me. I said that all this time, I was told that the investigation is still ongoing and Chase Bank is working with other Banks in reference to recalling the wire and trying to retrieve the money. She was very insensitive and rude and said there is nothing Chase can do as these are not wire frauds. I asked her, if Chase couldnt do anything, then why wait for XXXX business days to let me know that they wont even investigate or reach out the other bank or even their own account as XXXX wires were sent to chase Bank account. I feel I was very unfairly treated. Chase Bank is opening accounts for these criminals ( XXXX XXXX XXXX Acct # XXXX ) to launder money. Victims like me are wiring money to these fraud companies that the banks are opening accounts for with probably fake business documents. I just needed the Bank to help me in recovering any of my lost money or doing the due diligence. I feel that I spent so much time in calling and waiting over the phone with no results, which is very disappointing and frustrating.

Company response to consumer: Closed with explanation