Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #5548399

Complaint Overview

Complaint ID: 5548399

Company: Jpmorgan Chase & Co.

Product: Money transfer, virtual currency, or money service

Sub-Product: Domestic (US) money transfer

Issue: Fraud or scam

State: Texas

ZIP Code: 75071

Date Received: 2022-05-05T12:00:00-05:00

Date Sent to Company: 2022-05-05T12:00:00-05:00

Company Response: Closed with monetary relief

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

On XX/XX/XXXX, my husband and I were made victim to a real estate closing transaction scam in which we wired roughly {$150000.00} to a title company imposter. We captured the scam within 1.5 hours and reported it to our local Chase bank branch in person. The bank was able to restrict and subsequently close the recipient account due to fraud ( the wire was made to another Chase account ). The bank has evidence of other fraudulent wire activity on the aforementioned account which ultimately led to the account restriction and escalation to closure. We were given a phone number to call to check on the progress of the recall/recovery request as the funds were still in the recipient account upon closure. Thankfully the scammer did not act quickly enough to make a withdraw or transfer. We were told via phone by Chases fraud department that we would be mailed an affidavit to sign and have stamped by a notary. The affidavit was apparently sent via USPS with an expected delivery date of 5-7 business days. As of XX/XX/XXXX, we still had not received the affidavit. That afternoon we called the Chase fraud number again and spoke with a representative who informed us that our claim was closed with no recovery on XX/XX/XXXX. The representative on the phone could not answer why we were not notified of the claim closure or provide any details regarding the decision other than it was not considered fraud. We were then directed to the wire research team who is not currently taking calls and that we can message them via direct chat, secure message, or we can go to the bank and a banker can reach out to them directly. There are no obvious options to reach the wire research team online so we went directly to the bank branch we had been working with. The bank branch was equally perplexed as to why our claim was canceled and indicated we were expected to receive the recovered funds in 24-48 hours from the morning of XX/XX/XXXX. 48 hours lapsed and we still do not have the recovered funds. The lack of communication between the bank branch, their back-end teams, and with us is astounding. It is an endless circle of phone calls to support lines that go nowhere. Not a single person involved seems to 100 % understand what is going on with our money- which to my knowledge, is still sitting in a closed, fraudulent Chase account. I am incredibly disappointed and frustrated and will promptly be engaging legal support as we can not seem to find resolution working on our own. While the bank branch has been the most helpful, they are seemingly reliant on all of the same 800 phone numbers that we have been directed to. We filed a police report, with XXXX, with the FBI, and with the FTC. We have done all that has been asked of us and are constantly provided updates that only lead to more confusion, waiting, and disappointment.

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Disclaimer

This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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