Consumer complaint received 2025-07-05 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO.
State: CO

Complaint narrative:
On XX/XX/year>, I was contacted by a representative claiming to be from JPMorgan Chase. They informed me that there was fraudulent activity on my account, and together we went through the steps to prevent further unauthorized wire transfers. The fraudulent transactions in question included : {$12000.00} {$30000.00} {$29000.00} The individual instructed me that unless I took immediate action, I would not be able to recover these funds. At that point, the situation began to feel increasingly suspicious. However, I was asked to confirm I was speaking with a representative by clicking a push notification sent through the Chase mobile app. The notification asked me to verify whether I was indeed speaking to a Chase representative, and upon selecting " Yes, '' I was reassured that I was speaking with a legitimate Chase agent. 

We proceeded to send those XXXX transferers so fraud can see it and cancel them out. 

I was then advised that my existing account would be deactivated and that I would need to open a new one. 

Follow-up and Claims Process : On XX/XX/year>, I visited a Chase branch to inquire about the situation, only to be informed that no record of any communication with me existed. As a result, I filed a fraud claim with Chase. Unfortunately, this claim was denied. After further investigation, it became clear that the first transaction was part of a scam, so I filed a second claim, now describing the incident as a " scammer/fraud '' case. This second claim was also denied, and I was told that the incident was my fault. Upon reviewing the claims process, it was revealed that the second claim had been incorrectly filed, as Chase had failed to specify that it involved a scammer.

A third claim was subsequently filed, only to be denied once again.

Lack of Action and Communication : Throughout this entire process, Chases response has been woefully inadequate. Despite multiple claims being filed, Chase made little effort to reverse the wire transfers. While they contacted the other banks involved, their efforts were minimal, and I was repeatedly told that I would have to wait for a response. This delay was completely unacceptable, especially given the urgency of recovering the funds. 

Moreover, I attempted to escalate the matter to the police. The police department has been diligently working to trace where the money went and has asked for account details related to the wire transfers. When I reached out to Chase for this information, I was initially directed to a branch. Despite providing all the necessary information, the bank refused to cooperate, even though the police had requested these details directly.

Conclusion : I firmly believe that JPMorgan Chase has failed to meet its responsibilities as a financial institution in protecting my business account. Not only did Chase fail to recognize the fraudulent activity promptly, but they also failed to contact me directly when suspicious wire transfers were made. The push notification sent through the Chase app, which I now understand was part of a breach in security, should have been a red flag that warranted immediate attention. 

Furthermore, throughout the claims process, Chase showed a lack of urgency in addressing this matter. They made minimal efforts to work with the other banks involved, and they were uncooperative when asked for critical information by law enforcement. Chases handling of this situation has been extremely disappointing, and I feel that they have not taken the necessary steps to resolve the issue or protect my business.

Request for Resolution : I am requesting the following : A full investigation into how the fraudulent transactions were processed, including a review of the push notification security breach. 

A thorough review of Chases internal processes regarding fraud detection and prevention, specifically why they did not intervene during the wire transfers. 

Immediate action to recover the funds or reimburse my account for the total amount lost due to this scam.

Written confirmation of the steps Chase will take to prevent such incidents in the future and to improve their response to fraud cases. 

I appreciate your prompt attention to this matter and expect a swift resolution. Please confirm receipt of this complaint and advise on the next steps.

Company response to consumer: Closed with explanation