Consumer complaint received 2023-03-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Fraud or scam

Complaint:
I had filed other complaints here ( XXXX, XXXX, XXXX, XXXX ) but still did not receive an answer from Bank of America Corp. CFBP has informed me that the Bank has replied by saying that " it is still working on my issue ''. I have been waiting for more than 32 days since the date of first complaint I filed with CFBP ( XXXX ). Therefore, I have decided to file a New complaint with more detailed information about the same issue described on my previous complaints. On XX/XX/2022 an International  XXXX  wire transfer format XXXX with the amount of XXXX ( XXXX  ) into EURO currency was transmitted to Bank of America XXXX XXXX XXXX by the ordering institution XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX This Banking transaction is pursuant to XXXX XXXXXXXXXXXX XXXX XXXXXXXX dated on XXXX And XXXX XXXXXXXXXXXX XXXX XXXXXXXX dated on XXXX between Bank of America and XXXXXXXX XXXX  XXXX ( customer copy has been attached hereby for reference ). The transaction was placed on XXXX Global Server and the Bank Officer of the recipient Bank had been duly informed about where and how to locate the TRN, as the Sender Bank has informed me that it had sent clear instructions to the recipient Bank via interbank message. Long story short, as I clearly stated on my previous complaints, Bank of America has never acknowledge the receipt of that amount transmitted by XXXX XXXX XXXXXXXX. However, I have been provided with the FTN ( FEDERAL TRACE NUMBER ) thats a unique number assigned by the Federal Reserve to identify specific wire transfers between Banks. Each wire transfer is assigned a unique FTN by the Federal Reserve thats used to track the transaction and ensure that it is processed accurately. The FTN includes information such as the originator of a transfer, the recipient, the amount, the currency, as well as the date and time of the transaction. The FTN can be used to trace the wire transfer. It is important to mention here that the Federal Reserve only issues FTN when funds have been cleared. Then only then, the amount is sent to the recipient Bank for conversion. Here is the FTN of the transaction I mentioned here : XXXX I have provided the recipient Bank with this number, but I was informed by the holder of the Attorney trust IOLTA account which I nominated to receive this payment on behalf of my XXXX company, that he has been stonewalled by Bank of America wire room every time he requested information about this transaction. Additionally, Last year, I was advised to hire a Firm in XXXX  that specialises in investigations about Financial transactions, and after months of due diligence on this issue, I was informed that the amount has been fully converted to USD on XXXX and has been found into the Loro account of Bank of America on XX/XX/2022. Now I expect that CFBP use its powers to demand that Bank of America XXXX the amount to the Attorney Trust account I have nominated as recipient account on behalf of my XXXX  company. Otherwise I will have no choice but seek Legal help to resolve this issue at the Court of Arbitration. Its not Fair nor Right to grant a Bank 2 months to release funds that doesnt belong to it! Bank of America has probably been profiting from this amount since it has been added to its balance. Bank of America has never acknowledge the receipt of this amount, and this policy of denial by all means is considered a SCAM. The Bank has never attempted to resolve this issue. The amount that was transmitted to Bank of America was secured by liquid assets that I had to place in order to secure the amount! When Bank of America failed to recognize the receipt, the investor in XXXX was awarded with the XXXX because his Bank proved that the amount had been transmitted accordingly. I ( THE GUARANTOR ) AM THE ONE WHO IS BEARING LOSSES HERE. Do I have to file a lawsuit against Bank of America in order to recover whats mine by right??

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