Consumer complaint received 2025-01-11 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: ROBINHOOD MARKETS INC.
State: CA

Complaint narrative:
On XX/XX/XXXX, Robinhood sent an email and stated they reviewed the fraudulent activity on my account after it was compromised, and concluded that the activity was not eligible for reimbursement ( case ID XXXX ) under their Security Guarantee Guidelines. However, my account has always followed their guidelines as summarized below : 1. I've never shared my account login or password details with anyone.

2. All my mobile and laptop devices have a 4- or 6-digit passcode and Touch/XXXX XXXX to prevent anyone from logging in without my authorization. 
3. No one has remote access to my account. Robinhood has called me to confirm the location of my logins during the fraudulent period and validated that the location where the unauthorized transactions took place were not performed by me.

4. I contacted Robinhood for immediate assistance prior to the unauthorized transactions being completed on my account. They did not freeze my account when I asked the customer service representative that day and delayed action.

5. I only contact Robinhood support via the mobile application, as required by their guidelines.

6. I have never opened any suspicious links that would cause my account information to be compromised.

7. I do not use Robinhood to transfer funds to any other parties aside from my own banks checking account, which I kept the same checking account saved on my Robinhood account since I created it in XX/XX/XXXX. 

I appealed Robinhoods decision and was denied of reimbursement with no explanation of why the activity on my account would not be reimbursed. I attempted to get an explanation of why the unauthorized activity on my account did not follow their Security Guarantee Guidelines and have not yet received a simple response. 

I am very frustrated at the lack of assistance that I am receiving from Robinhood as Ive tried to reach out via email and phone for months to understand why my case was denied for reimbursement when Ive followed their security guarantee guidelines and have been responsive when they requested information from my end. My emails were mainly left unanswered or answered generically, or I am redirected to a separate review or fraud team that can only respond via email, which I never hear back from. 

The customer representative process for a simple request is very disorganized and unprofessional. I spoke with a representative on XX/XX/XXXX that stated my case was escalated to the review team to provide me with more information my denial and I would receive a written response within 2 business days. I followed up on XX/XX/XXXX and the representative stated that I was unable to be provided with additional details due to Robinhoods regulation rules, which were never explained or even clarified to me what that involved, and rudely hung up the phone before I can answer.

As a long-term Robinhood customer, I deserve to know why I did not get reimbursed for the material fraudulent transactions and how those unauthorized transactions did not comply with their Security Guarantee Guidelines.

Company response to consumer: Closed with explanation