Consumer complaint received 2020-12-10
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Other personal consumer report
Issue: Problem with a company's investigation into an existing issue
Sub-issue: Problem with personal statement of dispute

Complaint:
I was the victim of check fraud scheme, as described below. I have been reporting the matter to the FTC and the FBI 's IC3 bureaus, however through this process BofA has reported me to XXXX, thus preventing me from engaging in banking activities that are critical to my business interests and my board-level involvement with various civic organizations I volunteer with. 

The situation is as follows : In XXXX/XXXX of 2019, I was contacted to be engaged as a representative agent for the overseas company called XXXX XXXX and XXXX. My role was to receive payments on accounts from XXXX 's customers in the XXXX and remit monies to XXXX or as directed by them. My role was articulated in a memorandum of understanding on XXXX official letterhead. My liaison with XXXX is named XXXX XXXX and I have corresponded with him extensively through telephone conversations, texts and emails. On XX/XX/XXXX, a payment of {$72000.00} was delivered to me from a company named XXXX XXXX XXXX out of XXXX. As per my position with XXXX, I deposited the check into my checking account with Bank of America with the understanding that Bank of America 's ability to verify and process checks to be a reliable one and, after a hold period of more than 10 days, the check cleared BofA 's scrutiny on XX/XX/XXXX. I proceeded to distribute the funds as directed by my contact with XXXX, an individual named XXXX XXXX. On XX/XX/XXXX, I received another check payment of {$71000.00} from a certain business named XXXX out of XXXX. However, on that same day, I learned from BofA that a recall was made on the check by the issuing bank for XXXX XXXX XXXX on XX/XX/XXXX. After notifying XXXX XXXX of the trouble I called XXXX XXXX XXXX and spoke with their Vice President who said that one of their checks of the same number for the same amount had gone missing and therefore they contacted their bank to issue an investigation and a hold on the money which had previously been cleared. I immediately froze all activity, initiated recalls for the distributed monies and have complied with XXXX XXXX XXXX  investigation to every extent I am able. I initiated a check fraud investigation with Bank of America and I am working with any and all the authorities to expose the perpetrators of what is apparently a complex crime ring out of XXXX, potentially the likes of which our FBI XXXX XXXX XXXX described in his XX/XX/XXXX XXXX briefing addressing the state sponsored criminal activities of the XXXX XXXX XXXX XXXX 

*transcript of FBI XXXX XXXX XXXX XXXX presentation : https : //www.fbi.gov/news/speeches/the-threat-posed-by-the-chinese-government-and-the-chinese-communist-party-to-the-economic-and-national-security-of-the-united-states

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