Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #5502425
Complaint Overview
Complaint ID: 5502425
Company: Jpmorgan Chase & Co.
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Fraud or scam
State: Illinois
ZIP Code: 60611
Date Received: 2022-04-26T12:00:00-05:00
Date Sent to Company: 2022-04-26T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
A few weeks ago, we handled the resale of a diamond ring that was initially purchased 32 years ago from us. The customer 's assistant emailed us wiring instructions to an account at XXXXXXXX XXXX The following business day, before we had sent the wire, we received updated email instructions asking us to instead wire to an account at Chase. We proceeded to initiate a wire for {$85000.00} specifying the account name ( which matched our legitimate customer 's name ), and unknowingly the XXXX and account #, that were attached to a fraudulent account that presumably did not match our client 's name. A few days later, the customer called inquiring about the status of the wire. After investigating the stream of emails, it was determined that our client 's assistant 's email was penetrated and a bad actor sent the email with the updated wiring instructions. Our email was not penetrated, however our email was spoofed to send the customer 's assistant an email purporting to be from us saying there was a delay in the wire transfer. When we notified our contact at Chase, we were told that the account we had wired the funds to had been depleted. Despite our efforts to escalate this matter with Chase, they have said that they do not have any responsibility to verify that the account name matches the XXXX and account number, even though in this case, the fraudulent account was also opened at Chase.
Frequently Asked Questions
What is Complaint #5502425 about?
Complaint #5502425 was filed against Jpmorgan Chase & Co. regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2022-04-26T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.