Product: Money transfer, virtual currency, or money service

On XX/XX/2021 I sent money through XXXX Transfer service provided by Bank of America amount of {$730.00}. I was trying to pay half of our mortgage money and my intended receiver was my wife XXXX XXXX. I chose my receiver out of my XXXX only saved receiver names list at XXXX on my Bank of America mobile application. I could only see the names not phone numbers. I don't use XXXX often and I didn't know that under my wife 's name actually I saved her old phone number that she doesn't own it more than 2 years. I sent it at night of XX/XX/2021 and saw her name in my transaction screen as pending transaction, not her old phone number or not someone else 's name that I don't know. Still I see her name in my transactions list that I can provide as evidence Next day I woke up and checked that my wife still didn't receive money. Called to Bank of America and found out that money went to phone number that used to be hers but now owned by someone else and that someone else uses XXXX transfer as well. Money went to someone that has bank account at XXXX XXXX XXXX XXXX. Right away opened claim with Bank of America to retrieve my money and explained them everything. 

At the same time I called the number that my money was transferred. Someone picked up the call and when I explained the situation, he hung up on me right away. I thought he may think its some kind of scam. So I left him voicemails and text messages explaining him that I will provide all the information he needs to know that it is real, not the scam. 

Just to make how important that money was to me, I was unemployed that time and the money I sent was rom unemployment insurance from Massachusetts Unemployment Insurance. Because of this situation I had to defer my mortgage payment, unable to pay. 

Next several days I again tried to reach that person but he blocked my phone number. I tried to call him from my wife 's new phone number and again he picked it up but after I started to talk he hung up on me again. I realized that it is dead end and that person who received my money by mistake is not willing to give it back. Called to Bank of America and explained them that person who received it by mistake clearly is not willing to give it back. But they said that they need to complete their investigation. So I waited. 

After XXXX  days of investigation they sent me letter with XXXX sentences in it saying that the person who received my money does not approve to reverse the {$730.00}. That is all. 
That person who took my money knowingly that it is not his and Bank of America failed to help me retrieve the money. I dont have any information about that person so I can go to court and open court case against that person. 

After knowing that Bank of America is useless, careless its customers issues I turned to seek help from my town 's local police department. They dispatched police to my house and took information about the case, Police officer contacted to that person but he again answered and hang up on him after knowing that what the call is about. Police officer left him voice mails explaining the situation but he never called back or tried to resolve the situation. 

Clearly, this financial system is broken and that person is using it against me. My bank failed to protect me or offer any other help than ditching the problem. This person received money through USA banking system and he owns bank account at XXXX XXXX XXXX XXXX. Bank of America didnt try their best to ask XXXX XXXX XXXX XXXX to resolve the issue. They have all the information, transaction details they need. 

Now I dont have any choice other than to seek help from Federal Government. This is not right, it is not his money. he knows it, banks know it but no one cares. I hope CFPB will help me to resolve the situation. 

XXXX XXXX