Consumer complaint received 2023-04-26
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: WA
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Fraud or scam

Complaint:
In XXXX of 2022, Bank of America authorized an individual on to my business bank account, without notification to myself of any kind and proceeded to allow them to sign up for ACH transactions to XXXX XXXX showing my name as the Transaction description. A total of seventeen transactions took place over the next four months, totaling a monetary loss to my account of {$35000.00}. 

Since this initial dispute, both Bank of America and XXXX XXXX have documented admittance to these transactions being fraudulent and not be condoned, signed by, or authorized by me. Both companies have been continuously difficult and negligent with their due diligence to help me recover my funds, or release information of the individual who committed grand larceny within my account, or taken responsibility for allowing these transactions to take place, unannounced to me until I caught the transactions myself. 

I have spent countless hours, days, weeks, trying to battle these FDIC insured businesses to give me my money back or the information of the individual. They have told me excuses like I found out too late, or they cant, due to privacy laws, release their information. 

Well, Bank of America finally did. I was given the name of the individual they allowed into my private, business bank account, and allowed to take almost $ XXXX of my money in four months. With that being said, not only did Bank of America allow this criminal to get onto my account without notification, they admitted it was fraudulent, told me they couldn't release their info, and now just did. So there are a number of things that need to be address and multiple suits that need to happen. Aside from the larcenist who needs to be jailed for this fraud, Bank of America also needs to be held responsible for the action they took to let them get onto my account, steal my money, lie to me about it, belittle me for it, and now deny to give my money back that they released. 

I have called lawyer after lawyer, police, news stations, the Attn General office. I finally sent a demand letter to both Bank of America and XXXX XXXX on XX/XX/XXXX to respond with answers to my questions or return my funds. Return receipts showing those banks received those letters on the XXXX and XXXX of this month. I have no idea why this has been such a nightmare when these Federal Institutions hold an oath to uphold honest and fair banking to us consumers and I am getting no help. I have documents, proof, statements, even the name of the criminal and still, no one is helping get my money back. 

I have attached the demand letter that was sent to the bank with relevant attachments including all the fraudulent transactions, the letter from XXXX XXXX and Bank of America, and the attachment Bank of America sent me with the criminals name showing on my account, as STILL ACTIVE.

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