Complaint Review: JP Morgan Chase - elign Illinois

"Chase is making things even more difficult.  I have found that Chase
has misrepresented themselves in their fight to stop fraud in its
tracks.  There was no Fraud Monitoring which is their sophisticated
tool to detect abnormal charges. In my case, they were clearly personal
charges (Legoland, retail shopping, and child care)."

If these charges were incurred locally how is the bank supposed to know they are unauthorized/fraudulent charges? Do they set up filters at your request to determine what is unauthorized or fraudulent? Did you discuss with them what was business related and what wasn't?

Companies (like people) are required to monitor their own accounts as well. Try as you might you can't blame this on the bank. I have a scenario for you:

You go to a restaurant and buy your employees lunch on your corporate card or take a client out to dinner on your corporate card. Does the bank refuse to pay the charges because they are fraudulent?

More than likely they won't. The charges will go through and you will pay them either as a business expense because you talked shop while at lunch with your employees or while discussing business with your client or pay it yourself because it was a personal expense.

My point is that your Lego land purchases and child care may have been company related unless you specifically set up something with the bank that reflects fraud.

Your employee was able to obtain your administrative user name and password, which enabled him/her to gain account access. You must keep that information inaccessible to unauthorized personnel. You also need to use different passwords for different online accounts. They should also be 'strong' passwords. How many of these rules did you violate? How frequently do you scrutinize your monthly statements?

You were ripped off, but not by Chase.

There are charges filed against the person ulimately responsible. The point being made here is that all the things that Chase claims to do to help prevent the fruad like monitoring your account for out of sort transactions (including notification to account holder) and the customer zero liability for the fraud, are all false.

Of course the person who committed the fraud was not an authorized user on the account, there wouldn't be a legitimate arguement on our part if they were. There was only one authorized user on that account (who requested that account to be closed) and it was not the person that was charging up the card.  That small insignificant fact didn't stop Chase from issuing that person their own card after the account was closed.

It was money being drafted from another business account to pay for the fruad charges that brought to light what was happening. Chase knows they screwed up, that's why we have yet to receive all the audio media that has been requested  By not doing their job, they didn't help prevent the fraud, they helped push it along.

"I had been a Chase account member since 2007, and our relationship was satisfactory until it was brought to my attention that unauthorized charges were happening on my account. Upon this knowledge I closed my account in August of 2011 only to learn that Chase then allowed an employee of mine to fraudulently obtain a card on my closed account and run up charges."

What were the responsibilities of the person who did this? Was this person on your list of people authorized to make changes to your account (such as ordering cards)? Did they re-open the account as well? Who brought it to your attention that this was done?

"There was no Fraud Monitoring which is their sophisticated tool to detect abnormal charges. In my case, they were clearly personal charges (Legoland, retail shopping, and child care). They also took money without authorization from my operations account to cover these fraudulent charges and have yet to provide proof of their right to do so. "

I've had corporate credit cards off and on for a while. People that are authorized to get company cards are often required to sign statements to the effect that they understand the cards are not for personal use and that the penalty for abusing the card can be immediate termination. In addition the person who made the purchases is required to pay for them. Have you taken any action against the employee for this. They are the one you should be going after.