Consumer complaint received 2023-11-04
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem making or receiving payments

Complaint:
On XX/XX/2023, I discovered an unauthorized transaction of {$8500.00} on my Bank of America debit card ( account number : XXXX ). The transaction was made to a XXXX XXXX credit card ( XXXX ) that I do not own and have never authorized. 

Upon detecting this unauthorized transaction, I promptly contacted Bank of America to initiate a dispute. However, their investigation has been woefully inadequate and lacking in transparency. Despite providing them with compelling evidence to support my claim, their response has been dismissive and unconvincing. 

I have never had a XXXX XXXX credit card account, and I did not authorize this transaction. This is a case of digital fraud, and I am requesting a refund. 

I can provide additional documents to prove my claims. First, I have a credit report that proves I do not have any XXXX XXXX credit card accounts. Second, the documentation Bank of America sent to me on XXXX shows that the transaction happened on a device located in XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. At that time, I was in the XXXX XXXX heading to the office. I can prove my work address with the documents enclosed with this letter, and I have a video recording showing that I was physically in XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. Additionally, the XXXX address I used to log in to my Bank of America account does not match the IP address that was used to log in to my account when the transaction happened. This proves that I did not initiate the login activity. 

I have the following documentation to support my dispute : * Police report * ID Theft Affidavit, Fraudulent Account Statement * Credit report proving that I do not have any XXXX  XXXX credit card accounts * Employment verification letter, Social Security card, driver 's license, and XXXX XXXX XXXX bill statement as proof of my address * Statement from Bank of America showing the unauthorized transaction * Camera footage from my home showing my whereabouts on the day of the transaction * My account 's browser history related to Bank of America * Phone records showing that I did not receive any messages from Bank of America related to the transaction Despite this overwhelming evidence, Bank of America has inexplicably relied on an ambiguous identifier known as " XXXX XXXX XXXX  '' as the sole basis for asserting that the transaction originated from my device. This explanation is unsatisfactory and unconvincing, as they have failed to provide any supporting details or technical explanations regarding the nature of this " XXXX XXXX XXXX. '' Furthermore, I believe that Bank of America 's system may have been exploited, allowing the fraudulent transaction to occur without triggering any alerts or notifications for two-step verification. This suggests that the system may have permitted the authorization of transactions using the same " XXXX XXXX XXXX  '' for different devices, potentially enabling unauthorized access from suspicious locations. 

Their lack of transparency and unwillingness to provide more comprehensive information raises serious concerns about the adequacy of their investigation and their commitment to protecting their customers ' financial interests.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief