Consumer complaint received 2022-04-09
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
To whom it may concern, My name is XXXX XXXX and I have been the victim of online fraud and theft via unauthorized funds transfers. Upon receiving an email from Bank of America that there was suspicious activity on my account I immediately called their customer service number and gave proactive notification to Bank of America regarding unauthorized activity on my account. Bank of America was negligent in their de-linking of the fraudsters access to my account despite this notification. Bank of America 's failure to protect my financial security being compromised and additional funds being withdrawn led to the entirety of funds in my bank account, {$8200.00} being stolen and never recredited. The details of the theft are provided below. 

XX/XX/XXXX At XXXXXXXX XXXX XXXX, I received an email from Bank of America that my profile had been updated and that if I didnt make this change, I should contact customer service immediately. 

I did not make this change so I called the customer service number listed on the email at XXXX XXXX. ( see call log attached ). The representative I spoke to tried to verify my identity through my security questions but was unable to because all the security questions and answers had been changed without my knowledge or consent. 

She was able to verify my identity by sending a verification code to my cell phone that I read back to her. I learned that in addition to my security questions, my phone number, password and email address on file had all been changed by someone else without my authority. 

I asked if there were any unusual transactions. The representative told me the most recent one was a {$3000.00} funds transfer. I did not authorize this. I have never done a funds transfer through Bank of America. I immediately disputed this theft with the claims department. Initially, the rep told me I couldnt file a claim because the funds transfer was still pending. I asked since it hadnt gone through if we could cancel it, but she said no. Within a minute and while still on the phone with the rep, the funds transfer went through so I was able to file a claim for the {$3000.00} that was stolen from me. That claim number is : XXXX. I canceled my card, requested a new debit card be mailed to me and changed all the information that had been changed by the fraudster without my consent. I was transferred to the funds department who removed the unauthorized account that had been set up by the thief without my consent. 

XX/XX/XXXX I received an email at XXXX XXXX. PST that my Bank of America profile information had been updated. This is exactly the same thing that happened on XX/XX/XXXX. Again, I called Bank of America as soon as I saw the email at XXXX XXXX. ( see call log ). I reached a customer service representative and learned from them that an additional {$3000.00} ( now a total of {$6000.00} ) had been stolen from my account via another unauthorized funds transfer. Just like last time, my security questions, phone number, and email address on file were changed too. I filed a second claim ( Claim number : XXXX ) and removed the account that had been added to mine by the hackers. Please note : I got disconnected three times and was never called back which is why there are three calls listed on the call log attached. A representative told me to add a phone authentication code number that only I know, so I did that. This was not suggested to me on XX/XX/XXXX. I canceled my card, had a new one mailed to me, and changed all my security questions, email address, and phone number on file. I also had the account removed so that further funds transfers couldnt happen without my consent. I was assured these changes would prevent additional theft. 

XX/XX/XXXX I checked my email and learned my Bank of America profile had been updated again without my authorization or consent at XXXXXXXX XXXX. XXXX. I called Bank of America at XXXXXXXX XXXX. ( see attached call log ) and learned that once again my email, password, and security questions had been changed, and an account had been added for funds transfers ; the remainder of my account balance, {$2200.00}, had been stolen from my account via an unauthorized funds transfer. I filed a third claim ( Claim # : XXXX ). During this call I learned my first two claims had been rejected by Bank of America. When I called about my third claim, I learned that had been rejected too. 
I have filed a police report that is attached. 

XX/XX/XXXX I called Claims at XXXX and spoke with XXXX at XXXXXXXX XXXX  XXXX, was then transferred to XXXX in Texas with Escalation and then transferred to a XXXX XXXX speaking with XXXX, and then eventually spoke with XXXX who is in a Supervisor role. XXXX as well as XXXX asked me to provide my phone number. I did so. I was asked, Did you ever add any other phone numbers to this account? My answer was, No, I have never added any additional phone numbers. I was provided the fax number of XXXX to which this documentation of thefts and no protection on my account has been faxed.. This call with the numerous departments and representatives of Bank of America concluded at XXXX XXXX PT. 


Bank of America as not provided the reasoning or evidence for rejecting my three claims. It is clear Bank of America is not protecting its cardholders. My experience proves that I followed instructions that did not prevent three instances of theft. Bank of America. Throughout this entire process, Bank of America did not protect me from fraudsters and failed to protect my account from repeated fraudulent activity.

Upon calling Bank of America and asking for materials about how they came to conclude my three claims would be denied, what evidence they had/used, and their reasoning and asking upon the investigation it was based on, Bank of America refused to disclose anything. After requesting to file a formal complaint Bank of America acknowledged they would reconsider my claims but still did not credit my account under regulation E. They say they have 45 days but have yet to fix the error.

In all the instances of theft I experienced, I handled it in the moment and immediately called Bank of America. I was dependent on Bank of America 's controls after I notified them to protect my financial security and they failed to restrict this fraudsters access and allowed it to continue to happen resulting, in everything in my account disappearing.

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