Consumer complaint received 2016-07-27
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Bank account or service
Sub-product: Other bank product/service
Issue: Account opening, closing, or management

Complaint:
A criminal used a Bank of America account to steal {$86000.00} from me which is most of my life savings. This happened on XX/XX/XXXX. 

On XXXX XXXX 2016, I wired {$86000.00} per wire instructions emailed to me by attorney XXXX XXXX XXXX XXXX of XXXX in XXXX XXXX, Florida. These funds were the balance to close on my purchase of a condominium and I had hired XXXX XXXX and XXXX XXXX to handle the closing. As arranged with XXXX XXXX, I arrived at her office on XXXX XXXX 2016 to complete the closing and XXXX XXXX met me at the door asking if I had wired the funds to close. I informed her I had and XXXX XXXX stated to me that she must have been hacked because she did n't have the funds. 

From XXXX XXXX to XXXX XXXX 2016, XXXX XXXX and I and XXXX XXXX XXXX who worked at XXXX XXXX ( but was fired by XXXX XXXX on or about XXXX XXXX 2016 ) exchanged 34 emails between my email address XXXXXXXXXXXX and XXXX XXXX XXXX email address XXXXXXXXXXXX ( atch XXXX & XXXX ). XXXX XXXX was aware we had a closing upcoming and our communications were almost entirely by email including HUD-1, HOA screening, price for title agency fees, etc, so my receiving XXXX XXXX 's wire instructions via their company email account was nothing out of the ordinary. 

The account on the wire instructions emailed to me by XXXX XXXX was Bank of America account " XXXX XXXX XXXX & XXXX XXXX '' ; address listed of the account on the wire instructions was XXXX XXXX 's and attorney XXXX XXXX XXXX physical business address XXXX XXXX XXXX XXXX, XXXX XXXX, FL XXXX ; ABA # XXXX ; Account # XXXX ( atch XXXX ). 

I received these wire instructions by email from XXXXXXXXXXXX on XXXX XXXX 2016 and my closing date was scheduled for XXXX XXXX 2016. I followed these wire instructions and phoned XXXX and processed the wire transaction from my checking account which I specifically set-up at XXXX in order to process an immediate wire transfer ( up till then I only had a brokerage account with XXXX ). 

On XX/XX/2016, XXXX XXXX and I reported the incident to the local police station ( atch XXXX ). XXXX XXXX Police Detective Blemur, ( XXXX ) XXXX XXXX advises he has subpoenaed the Bank of America `` XXXX XXXX XXXX & XXXX XXXX '' account to determine account owner ( s ) ; but receiving these records, det. XXXX advises can take up to 6 weeks. 

On XXXX XXXX 2016 I also placed a wire recall request at XXXX. On XXXX XXXX 2016, XXXX CEO Office, XXXX XXXX ( XXXX ) XXXX phoned me to advise the recall was unsuccessful meaning the Bank of America recipient " XXXX XXXX XXXX & XXXX XXXX '' either did not authorize the release of the funds back to XXXX ; funds no longer available ; or the account had been closed. XXXX advised me they are continuing to investigate and will try to recover any residual funds in the Bank of America account and that this can take another 30 to 60 days. 

I would like the CFPB to please investigate how Bank of America can function with criminals opening and using bank accounts to steal the hard-earned life savings of Americans and then disappear. 

atch XXXX. Wire instructions from XXXX XXXX atch XXXX. Emails sent to me by XXXX XXXX including wire instructions atch XXXX. Emails sent by me to XXXX XXXX atch XXXX. Police Report

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