Consumer complaint received 2022-05-02
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (NC)

On XX/XX/2021, I noticed a pop-up on my computer that purported to be from XXXX telling me that my computer 's security had been compromised. I called the number on the pop-up and was connected to someone who then used a program called XXXX XXXX ' to gain access to my computer. The agent said she would call back the following day with an update. When I didn't hear back, I called the number back and spoke with someone different. They told me that I would be contacted by Bank of America 's fraud department since it was possible that my bank account had been compromised, and gave me the number that would be calling me ( XXXX ). He also instructed me to XXXX the number to verify that it was real, and when I did, I saw that the number was indeed listed as a legitimate fraud reporting number on the Bank of America website. I received a call from that number that day ( XX/XX/2021 ), and was connected to someone who called himself XXXX XXXX XXXX ' He said that he was a Bank of America employee, and that he worked closely with the FTC. He told me that he was concerned about a security breach on my account, and said that he would do everything he could to resolve it. He also asked me if I would be willing to participate in an ongoing investigation they were conducting in partnership with the FTC, but that if I agreed, I would not be able to discuss the case with anyone at all since it was confidential and ongoing. On XX/XX/2021, I called the Bank of America fraud line number that had called me the day before to ask about an update and was again connected to XXXX XXXX XXXX ' He explained that this is a serious threat and provided more information about the investigation. He then called back several times that day, again from the Bank of America fraud line number, to ask more questions about what information I may have on my computer that would compromise my security. On XX/XX/2021, XXXX XXXX XXXX called from what he said was his direct line ( XXXX ) and told me that he had seen suspicious activity on my Bank of America account. He said that the best way to protect my funds, since it was clear that the 'bad actors ' had already gained access to my account, would be to start to move my funds into a 'special account ' that the FTC and Bank of America keeps on reserve for such situations. He told me that he would consolidate any money I moved from my account into the new account, and that it would be safe. For the first move of funds, he asked me to make a wire transfer in the amount of {$14000.00} and {$9100.00} to separate accounts that he told me would temporary havens for my funds, and gave me the information for those accounts. On XX/XX/2021 and XX/XX/2021, I made the wire transfers. 'XXXX  XXXX began calling more frequently, once or twice daily, to reassure me that the investigation was moving along and that my transferred funds were safe, while at the same time increasing alarm at the severity of the situation. He began telling me that my cooperation was sparing me from financial ruin, since the 'bad actors ' had all of my information and access to all of my financial assets. I became increasingly frightened, and isolated since I was given strict instructions not to discuss the case, lest it compromise the investigation. On XX/XX/2021, 'XXXX  XXXX called and instructed me to make an immediate cash withdrawal of {$9100.00} since he was seeing increasing suspicious activity on my account on 'the backend. ' I did as instructed, withdrawing the funds from a local Bank of America branch, and he then told me to mail the cash via XXXX  to addresses in Florida, where he said an FTC agent would collect it and deposit the funds into the 'safe ' account they had set up for me. On XX/XX/2021, he instructed me to withdraw additional cash from my checking account and then mail it to an third address in Florida, this time in the amount of {$22000.00}. On XX/XX/2021, XXXX XXXX instructed me to continue to cash withdrawals to 'protect ' my funds and mail it to a fourth address in Florida, this time in the amount of {$20000.00}, again from a local Bank of America branch XXXX On XX/XX/2021, he called and instructed me to withdraw another {$35000.00}, and that this time, I would be meeting an FTC agent in person for them to collect the funds and deposit them into the new account. I withdrew the cash from a lobal Bank of America branch. That night, I met an individual who claimed to be an FTC agent, and handed him the cash. At this point, my anxiety over the safety of my funds and the doubt I began feeling after multiple delays in 'XXXX  XXXX and the FTC giving me access to the 'new account ' finally pushed me to inform my family what had been going on. My daughters called Bank of America 's fraud line, and they confirmed that there was no XXXX XXXX XXXX who worked in the fraud department there. I immediately ceased communication with the scammer. We promptly filed a police report, and a report with the FBI. In all, I transferred {$23000.00} and withdrew over {$86000.00} in cash, all within two months. I never once received a single alert from Bank of America that they were noticing unusual activity on my account, even though I have had this account for over 50 years, never withdrawing more than {$1000.00} in cash in any given month. Although I was regularly withdrawing over {$10000.00}, I never received a notification of a Suspicious Activity Report being filed. If I had received any resistance from Bank of America, or any alert that would indicate what was going on was suspicious, I would have known that the " XXXX XXXX ' I spoke with was not an actual Bank of America employee. We also checked my cell phone records to confirm that the number that I initially called that connected me to the scammer was a legitimate Bank of America phone number. As an elderly woman, and long-time customer of Bank of America , I would have expected more safeguards to protect me from this situation. Instead, Bank of America allowed highly unusual activity to occur on my checking account without even the minimum attempt at keeping my funds secure.