Consumer complaint received 2023-12-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Fraud or scam

Complaint:
Before I start, I am an engineer by background. I have a XXXX  in XXXX XXXX from XXXX and currently work for a software startup. I have laughed and shown scorn when I've come across articles or heard stories of people falling for elaborate scams. My story is no different, but I hope you'll read it anyway to understand how the misinformation from a BoA associate worsened the already painful scam that I was a victim of. 

Yesterday, XX/XX/XXXX, I received a phone call from XXXX and someone claiming to be a BoA fraud specialist. He enquired whether I had authorized a {$2000.00} XXXX transaction from XXXX, NY at XXXX XXXX  to a XXXX XXXX XXXX. When I said no, he gave me the case number XXXX and transferred me to an associate who could help me cancel this transaction and secure my account. 

The second agent identified herself as XXXX XXXX with ID number XXXX and said that since XXXX was a third party service the only way to cancel that transaction was to send reset codes to a dummy account. She walked me through setting up a dummy recipent ( email : XXXX and last name : CUTO was short for Cancel Unauthorized Transaction Override ) and send the " reset code '' as the transaction amount ( {$1500.00} ) and include my case number in the message. She said it didn't register and proceeded to walk me through two more dummy reset transactions- totaling {$2800.00}. 

Throughout the exchange, I kept asking her how I could trust that she was from BoA and she assured me that the number on my caller ID XXXX was reserved for BoA and can not be spoofed. She said that I could reach her at XXXX or dialing XXXX and ext XXXX any time I had any questions. Before we hung up at the end of the 43 min call, she said that she and her colleagues would reach me tomorrow to confirm that my account was secure and none of those transactions would clear. 

After I hung up with her, I suspected a scam, and called BoA at XXXX XXXX at XXXX. I was connected to an associate named XXXX from the claims team who told me that it was indeed a scam, but I had called just in time for BoA to cancel those transactions. She promised that the transactions would not clear, proceeded to take meticulous notes of the scam I mentioned above and said it would be investigated. After this conversation, when I checked my BoA app, the three XXXX transactions that were initially showing as " processing '' disappeared from my Checking account activity. My account balance rebounded back to {$3200.00}. I was advised I didn't need to file a claim at this point because XXXX was able to cancel the transactions. 

I woke up this morning to find that these three fraud transactions cleared and my account balance is {$330.00}. I immediately called BoA and spoke to an associate named XXXX who filed a fraud claim on my behalf. She assured me investigations into BoA impersonators are taken seriously but she could provide any clarifications about why I was misinformed by XXXX yesterday. Unhappy with the lack of clarity, I called back to BoA 's claims team to connect with XXXX from Maryland and spoke to his manager XXXX XXXX who I went through all these details with. He expressed his sympathies and said the claim process - XXXX - was the best way to proceed and had no explanation for the gross miscommunication from XXXX. 

The scammer, " XXXX XXXX, '' called me back on XX/XX/XXXX at XXXX XXXX  offering to walk me through sending more " reset codes '' in an obvious continuation for the scam. 

Bank of America said that they would need 45 calendar days to give me a resolution on the fraud claim. I escalated this entire experience to XXXX XXXX, president of Bank of America 's retail services on XX/XX/XXXX. I was then assigned a resolution partner named XXXX who said she would answer any questions I have but would not participate in the actual fraud claim resolution. 

I think there is gross negligence on Bank of America 's part in this scam and the least they can do is restore my funds to me. 

Attached are : 1. screenshot of bank activity showing the three fraud claims 2. Call log showing the two incoming calls from the scammer- all the outgoing calls are me trying to reach Bank of America after the fraud 3. Screenshot of one of the " reset '' transactions the scammer walked me through

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 explanation