Checking or savings account -- Problem with a lender or other company charging your account -- Complaint #9390257
Customer's accounts emptied after hacking incident and initial transaction reversal.
Complaint Overview
Complaint ID: 9390257
Company: TD Bank US Holding Company
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-Issue: Transaction was not authorized
State: New York
ZIP Code: 11208
Date Received: 2024-06-30T12:00:00-05:00
Date Sent to Company: 2024-07-05T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Risk Assessment
Risk Level: high
The customer's accounts were emptied six months after fraudulent transactions were reversed, suggesting a potential lapse in security or communication from the bank.
Consumer Sentiment: negative
Topics: Unauthorized transactions, Account security, Fraud, Bank communication
AI Analysis
CFPB complaint 9390257 was filed against TD BANK US HOLDING COMPANY regarding Checking or savings account (Checking account), specifically about "Problem with a lender or other company charging your account". A TD Bank customer experienced unauthorized transactions on their checking and savings accounts after being hacked, and despite initial relief, later found their accounts emptied. The complaint was received on June 30, 2024 from New York. The company responded with "Closed with monetary relief".
Consumer Narrative
I was hacked in XXXX of XXXX through a XXXX XXXX XXXX The hackers accessed my financial accounts ( XXXX BANK, TD BANK, XXXX XXXX XXXX XXXX XXXX XXXX through my phone number and email which they had access from my number 's XXXX. I let all the financial institutions I had know of the issue as soon as I could. Every Institution helped me EXCEPT TD BANK XXXX. I went to the TD bank XXXX at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX The banker XXXX helped me take down the complaint and TD bank had reversed the fraudulent transactions back to me. I transferred the reversed transactions ( XXXX transactions ; {$1500.00} and {$3500.00} to XXXX XXXX ) to my savings account at TD. She told me I had to get a new phone to get back into online banking which I understood. After that I had work, I had gotten a new phone too but could not check my financial reports. I did not have time to go to the branch. I did not have online banking and they did NOT contact me and they did NOT send me any financial statements regarding my accounts Then 6 months later I got an email notification that my bank accounts were empty. Both Checking and XXXX. I did not use these accounts for ANY transactions. I just kept more than the minimum balance so I don't get any fees. My checking account balance was supposed to be {$5500.00} My savings account balance was supposed to be {$5000.00} ( The XXXX transactions which I hadn't authorized from XXXX, when it was reversed I had them put it back into my savings account ) I come back to the branch and they said I had an automatic mortgage payment depleting my account over the 6 months. I DO NOT OWN A HOUSE MIND YOU. I had to go to the branch XXXX times and they did not help me, the third time I called the cops for a report and the branch gave me the cash back through a bank check for the automatic payments which depleted my checking account the same day I called the police. That in itself is a possible complaint because why are there automatic charges on my account and I am NOT notified nor sent any statements about it regardless however that is not why I am making this report. not only did they let an automatic payment which I did not authorize or notified of, the real complaint is that they also reversed the money that they gave me back earlier due to the fact that in their system " I '' authorized the transaction through my OLD PHONE NUMBER WHICH I DO NOT HAVE ACCESS TO. The problem is that I was not and still am not the person that has access to my old phone number when the transactions were authorized. My number was XXXX swapped by hackers I learned it is called a PORT OUT SCAM and it was the perpetrators that authorized the transaction. I fought with TD Bank XXXX. and the XXXX at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX but they could not help me at all. I went there again and again to urge them to start their investigation again however they refused to help me at the branch and asked for further documents. The branch asked me to show proof to the fraud department that I do not have access to this number however my number was through XXXX prepaid sim card, and their customer service team is not helpful at all. For months I requested them to show me proof or give me a supporting document that my phone number was hacked. They could not provide me nor help me with that. My issue is that XXXX XXXX was able to reverse fraudulent transactions from the same perpetuators for over {$20000.00} combined transactions between my checking and savings accounts but TD is refusing to give me {$5000.00} of MY MONEY that was NOT authorized by me due to me being a victim of a SIM SWAP Scam. The Banks are in the financial industry they should understand because I am aware that I am not the only XXXX this happened to and I did not even know at the time this was a possibility. If I had known I would've used XXXX or a similarly more reputable company for my phone service. It is now XXXX of XXXX and all the Financial Institutions I had accounts with helped me EXCEPT TD BANK XXXX. It is unacceptable that {$5000.00} not {$50.00} or even {$500.00}, it is not a small sum at all and for me it is months of savings were STOLEN from me and TD bank is not able to help. to XXXX XXXX where the assistant XXXX of the TD branch told me to send possibly a fake note stating that my phone number was hacked because XXXX could not send it for me and I sent the branch proof of me contacting XXXX several times through email and phone customer service. The assistant XXXX literally said " TD wont verify the credibility of the letter ''. To me that is NONSENSE I am not going to fabricate a document and commit a crime because their XXXX Department can not give me a resolution to a problem that every other bank and credit card company was able to help me with. Very Unprofessional Bank and will not EVER bank with them after this experience. XXXX While filling out this complaint I noticed they don't even have my address correctly, my apartment is XXXX instead of XXXX How can you have my address incorrectly like this when I am keeping thousands of dollars in the account. VERY UNPROFESSIONAL BANK WITH NO DETAIL ORIENTED EMPLOYEES IN FRAUD AND BRANCH DEPARTMENTS.
What You Should Do -- Consumer Action Plan
If you experience unauthorized transactions, monitor your accounts closely and ensure you receive clear communication from your bank regarding resolutions and account status.
Legal Context & Consumer Protection Laws
This case involves potential issues with account security, unauthorized transactions, and the bank's responsibility to protect customer funds.
Regulatory Insight
Banks have a responsibility to safeguard customer accounts from fraud and to maintain clear communication regarding account activity and security measures.
Resolution Likelihood
likely
State-Specific Consumer Protections
The customer is located in New York, and TD Bank's actions will be evaluated under New York banking regulations.
Industry Comparison
While many banks offer robust fraud protection, this incident highlights potential vulnerabilities in communication and account monitoring.
Related Issues
Frequently Asked Questions
What is CFPB complaint 9390257 about?
CFPB complaint 9390257 involves Checking or savings account (Checking account). The consumer reported an issue with "Problem with a lender or other company charging your account", specifically "Transaction was not authorized". This complaint was filed against TD BANK US HOLDING COMPANY on June 30, 2024.
Which company is complaint 9390257 filed against?
Complaint 9390257 was filed against TD BANK US HOLDING COMPANY. You can view all complaints against this company on their profile page at /company/td-bank-us-holding-company.
What was the company's response to complaint 9390257?
TD BANK US HOLDING COMPANY responded with "Closed with monetary relief". The response was marked as timely by the CFPB.
When was complaint 9390257 filed?
Complaint 9390257 was received by the CFPB on June 30, 2024. It was sent to TD BANK US HOLDING COMPANY on July 5, 2024.
What state was complaint 9390257 filed from?
Complaint 9390257 was filed from New York. You can view all complaints from this state at /state/NY.
Was the consumer satisfied with the resolution of complaint 9390257?
Dispute information is not available for complaint 9390257.
What product category is complaint 9390257 about?
Complaint 9390257 is categorized under "Checking or savings account", specifically "Checking account". This is one of the product categories tracked by the CFPB.
How was complaint 9390257 submitted?
Complaint 9390257 was submitted via Web. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 9390257?
This case involves potential issues with account security, unauthorized transactions, and the bank's responsibility to protect customer funds. This relates to a Checking or savings account complaint against TD BANK US HOLDING COMPANY involving "Problem with a lender or other company charging your account".
How likely is complaint 9390257 to be resolved?
Resolution likelihood: likely. The company's current response is "Closed with monetary relief". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 9390257?
This complaint is rated as high risk. The customer's accounts were emptied six months after fraudulent transactions were reversed, suggesting a potential lapse in security or communication from the bank.
What regulatory actions apply to complaint 9390257?
Banks have a responsibility to safeguard customer accounts from fraud and to maintain clear communication regarding account activity and security measures. The CFPB tracks complaints like this one to identify patterns of misconduct across the Checking or savings account industry.
What should the consumer do about complaint 9390257?
If you experience unauthorized transactions, monitor your accounts closely and ensure you receive clear communication from your bank regarding resolutions and account status.
Are there state-specific protections for complaint 9390257?
The customer is located in New York, and TD Bank's actions will be evaluated under New York banking regulations. This complaint was filed from New York.
How does complaint 9390257 compare to industry norms?
While many banks offer robust fraud protection, this incident highlights potential vulnerabilities in communication and account monitoring.
What specific security measures did TD Bank have in place to prevent the subsequent emptying of the accounts after the initial fraud?
The narrative does not specify the exact security measures TD Bank had in place. However, the outcome suggests a potential failure in their systems or protocols to prevent further unauthorized access or activity after the initial incident.
Why did TD Bank not contact the customer or send financial statements after the customer lost online banking access?
The narrative states the customer did not receive contact or financial statements from TD Bank after losing online banking access. This lack of communication is a key point of contention and may indicate a failure in the bank's standard customer notification procedures.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.