Business ProfileforRegions Financial Corporation

On July, 2023, our supplier from the **, ********************************* LLC was due to receive payment from Clima for products purchased in 2023. Through a fradulent scheme, ***** received an email of a person claiming to be an accounting manager with *********************************. That person set up an account with ********************** and was able to accept funds via a wire transfer. The hacker instructed us to no longer use the bank account we were currently using and to use from now on, the ************** No. ********* (Account number: *********** corresponding to a ************* account. ********************** **************** would not advise on how the account was allowed to be set up under a business name that already existed nor how payment was allowed to go through to an account that was not legitimate. Regions did not properly vet the account. In turn, a wire payment of $39,406.40 was processed and received to the fraudulent account. **********************'s **************** investigated the fraud claim for three months. On Jan. 26, 2024 Regions Bank reimbursed Clima: $2,190.50. Despite several attempts to the **************** and Executive team, we have not been informed as to how Regions arrived at this amount. They do not respond. I was in contact with Mr. **************************** Vice President for Regions Corporate Security, which was more or less cooperative at first, but then stopped answering my calls nor replying to emails. He never provided me with concrete, valuable information. We are attempting to get answers from Regions Bank on how they allowed the monies to transfer to an illegal account and we have not been advised on why they only issued a reimbursement of $2190.50. Since I am not a customer and do not have an account set up with **********************, I believe this is why they are not being supportive in their fraud investigation.