Consumer complaint received 2018-12-11
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

This letter is being written and sent via email and/or land mail to the following folks/offices at the end of this letter. I have tried for 4 weeks working with the Bank of America local division and  customer support no progress what so ever. 
To make a long story short, myself and my fianc hired two lawyers to help my fianc and myself sell land that we inherited. On XX/XX/XXXX, I went into the XXXX Bank of America to transfer funding from BOA account, to my lawyers BOA account. 

As you will read below, I am have corporate 110 % and volunteered information without BOA asking it. I have called customer service 11 times and had meeting with the BOA XXXX branch Manager XXXX XXXX. 

Per the BOA team fraud investigation team, talking with two lawyers, consulting with other lawyers and experts on the process of selling land in another country that is yours and then transferring the funds to BOA.we have done no wrong. 

As you will read the only fraud issue I was told about is one of my lawyers partners has had issues in the past. I have been told, since then he has been fired. But the investigation team at BOA as I was truthfully promised is only investigation the XXXX Lawyer for PAST issues/events. Myself, my funding, my fianc, my current lawyer, and our current objectives are not being investigated and are within all existing laws for both countries and the United States. 

Per Bank of America rule and regulations and state/federal laws attached to this documentI have requested numerous times my funding that is being held by BOA be returned to me. Since then, BOA which use to call me daily, as ceased all communications with me and this event, yet I call the fraud department at BOA and no  objectives have changed. 

I am 100 % XXXX, combat veteran that served this country through our military and XXXX..and this is the way BOA treats its XXXX combat vets. One day I was TOLD to go see our local branch manager.easier said than done with my XXXX. 

So in summary, my funds to my legitimate lawyers, for legitimate selling of our heritance land.my funding was given to are BOS suspicious person flagged as a level XXXX and the remaining on my found will not be returned per attached BOA-state-federal laws/policy. I and my fianc have done nothing wrong, I even told the local branch manager that I understand it might take a couple of weeks to sort things out.but now I am being treated as the criminala person who fought, was wounded, a POW, for this country and am telling the truth 110 %. That is why I on my own free will supplied all information I have. I am told that this individual from XXXX is only the person being investigatedyet part of my funds were released to him, even per XXXX and local branch manager XXXXthey could not explain/understand and Per XXXX and XXXX, they knew he was on their list. Also my remaining money after 31 days is still being held. My mom just passed away and I had to borrow money from a friend to address that event. Like my dad said, If it was not for veteranswe would all be speaking XXXX XXXX. On own free will, two packages of emails, evidence, information ( 63 pages ) that pertains to the transferring of my own money to my lawyer to help my fianc sell her inheritance land from her late father. 
2. Was told by three BOA managers and investigating team that the investigation was only on my lawyers partner who went to another BOA account in XXXX for the funding. I, my funding, my current lawyer, and my fiancs activity was no way involved, and all legal per Attorney. Quote 100 % by XXXX and XXXX XXXX. 
3. When the suspected individual went to the XXXX BOA, he was flagged at the highest level, per BOA.yet the teller- why who the XXXX knows.still allowed him to walk away with my {$10000.00} and hold {$20000.00}. None should have been released, since I was told he was flagged at the highest level immediately. 
4. The same day I notified BOA that the {$20000.00} remaining should/will be put back into my account no matter what the outcome was on the investigation, Per BOA 18 day policy. 
5. I am a 100 % XXXX combat veteran and have never been treated like this and I feel the public needs to be made aware that an innocent 100 % combat XXXX veteran on limited income, his money is being held even though he was told the investigation was ONL : Y against the XXXX XXXX who attempted to collect the money. I have already contacted the VA and included that in my FBI and civil law suit. 
6. I have filed a local police report-Ocala- # XXXX, per BOA, in which a copy was given to BOA. 
7. I have filed a FBI XXXX report, per BOA, in which BOA was given a copy. 
8. BOA east coast manager XXXX and local XXXX branch manager, XXXX XXXX, were in constant contact with me.then it stopped! In 5 days, not one message returned which forced me to go into the branch, even with my XXXX of driving, XXXX. 
9. I showed proof the money was from my back pay for XXXX even though I was not asked. 
10. I showed and supplied proof that my XXXX land acquition inherited from Fathers death. Was legal and our attorney was certified yet the only issue per BOA was his partner in XXXX. He has been notified of that and I think he was fired him. 
11. I have asked in writing and verbal 13 times since XX/XX/XXXX, to please return the {$20000.00} to my account which is permitted per attached BOA policy. 
12. I am a retired XXXX XXXX, XXXX years in war, 2 months POW, and XXXX XXXX XXXX, and in my whole life the treatment and lack of caring from BOA is astonishing. 
13. My step mom passed away and I tried to get assistance from BOA to helpNothing. 
14. I am an honest and nice guy but with my credentials.I will make it my goal to see my funding is returned and BOA is held liable in some sort of public fashionas to not let this happen to other people and to show how there are still companies over here that treat combat veterans like nothing. 
15.. I request that the {$20000.00} by XX/XX/XXXX or it is my duty and right to proceed with litigation. 
16. I and my Fianc have done NOTHING wrongeven confirmed by your BOA investigation team to me and three managers.yet the XXXX partner was given {$10000.00} even when the highest flagged was raised per XXXX, and after talking with XXXX and the local branch manager of XXXX in XXXXthey dont care. I had a one hour meeting scheduled last week with the local XXXX branch BOA manager and in the first XXXX mins, he left the office 7 times to attend other matters.. So maybe BOA does not take this serious.but I sure will my friends. 
17. As you can tell from my credentials I am an educated man and also selling my land in XXXX, inherited from death of my Aunt, for a good amount of money, in which XXXX XXXX of BOA in XXXX aided me but I would be stupid or something magical happen to make me stay here ( the only thing I can think of is to have BOA, besides given me back my {$20000.00}, also reimburse me for the {$10000.00} that they were negligent in given to a person who was flagged at such a high level by BOA, per 3 managers and the investigation team, in which I have notes and told folks all conversations were being recorded ) General = Bank of America policy/rules/regs/regs Except for Remittance Transfers, if you direct us to begin processing a transfer immediately or a transfer 's status is In Process or Processed, you no longer have the right to cancel it. However, the Bank at its option, may attempt to cancel the transaction, subject to the limitations in Section 8.G below.

Alternative Method : The easiest and most convenient way to cancel a transfer is through the method described above. However, you also may request to cancel a 1-time future-dated or recurring domestic transfer by calling us at XXXX. From outside of the continental XXXX, call us collect at : XXXX. 
If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. You may not call and cancel a transfer whose status is In Process or Processed. 
If you attempt to cancel a payment or transfer in accordance with the above instructions and we do not do so, we will be liable for your losses or damages, subject to the limitations in Section 8.G below. 

Section 8-G Bank of America may at its option accept your cancellations or amendments to a transfer. You acknowledge that if Bank of America attempts to cancel or amend a transfer, then the reversal request or amendment must be agreed to by each financial institution which has accepted a payment order related to the transfer at issue before it will be acted upon and you further agree that Bank of America shall have no liability if a cancellation or amendment is not completed. You agree that you shall indemnify and hold Bank of America and officers, directors, employees, and representatives harmless from and against any and all claims, demands, losses, liabilities, and expenses, including attorney 's fees and costs, resulting directly or indirectly from compliance with your cancellation or amendment request. 

726.107When transfer made or obligation incurred.For the purposes of ss. 726.101-726.112 : ( 1 ) A transfer is made : ( a ) With respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good faith purchaser of the asset from the debtor against whom applicable law permits the transfer to be perfected can not acquire an interest in the asset that is superior to the interest of the transferee.

( b ) With respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract can not acquire a judicial lien otherwise than under ss. 726.101-726.112 that is superior to the interest of the transferee.

( 2 ) If applicable law permits the transfer to be perfected as provided in subsection ( 1 ) and the transfer is not so perfected before the commencement of an action for relief under ss. 726.101-726.112, the transfer is deemed made immediately before the commencement of the action.

( 3 ) If applicable law does not permit the transfer to be perfected as provided in subsection ( 1 ), the transfer is made when it becomes effective between the debtor and the transferee.

( 4 ) A transfer is not made until the debtor has acquired rights in the asset transferred.

( 5 ) An obligation is incurred : ( a ) If oral, when it becomes effective between the parties ; or ( b ) If evidenced by a writing, when the writing executed by the obligor is delivered to or for the benefit of the obligee.

726.109Defenses, liability, and protection of transferee.

( 1 ) A transfer or obligation is not voidable under s. 726.105 ( 1 ) ( a ) against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee. 


People who have been tricked into transferring money to a fraudster could find it easier to get their money back under plans set out by a regulator.

The Payment Systems Regulator ( PSR ) has been looking into such scams following a super-complaint by consumer group Which? over concerns that, unlike many other payment methods, victims conned into transferring money by bank transfer to a fraudster have no legal right to get their money back from their bank. 
Plans outlined by the PSR, following work with the payments industry, aim to make it harder for fraudsters to commit such crimes, ensure banks follow best practice and help them to recover money. 

XXXX experts are warning parents about a new text scam targeting pare Whether or not the fraud victim gets their money back would depend on whether banks and payment organizations had met required standards, including measures and processes that help prevent and respond to scams as well as whether or not the victim has taken an appropriate level of care in protecting themselves. 
The PSR said the compensation model aims to help reinforce compliance with new best practice standards that banks will follow when a victim reports one of these scams.

The PSR said new protections to help prevent scams happening and help banks recover money faster will include : Confirmation of payee starting in XX/XX/XXXX, allowing customers to verify that they are paying the person they intend. 
Transaction data analytics, starting in XX/XX/XXXX, helping banks to shut down mule accounts taken over by criminals for fraudulent activity and spot potential fraudulent payments. 
Know your customer data sharing for banks due in XX/XX/XXXX to help stop fraudsters opening accounts they use for scams. 
Improved data sharing providing a better understanding to help banks work together to respond to scams faster. 
The Financial Conduct Authority said it had previously found that, generally, procedures for handling cases of push payment scams are often unclear and inconsistently applied. It said it will be actively monitoring the adoption, implementation and impact of the standards.