Consumer complaint received 2023-02-03
Product: Checking or savings account — Checking account
Issue: Opening an account — Account opened as a result of fraud
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (IL)

On XX/XX/XXXX I received multiple emails between XXXX XXXX. CST and XXXX XXXX. CST from Bank of America relating to the progress of an account being opened using my identity. In less than a minute an email was sent stating that my Online Application is in Progress and a second sent stating that my Application was approved and a XXXX Banking account was now open in my name/social security number. 

However I had nothing to do with this request and there is no way that Bank of America should have even allowed this account to be opened because I have been a victim of identity theft and since XX/XX/XXXX my records with all credit reporting bureaus and XXXX have been flagged with security/fraud alerts and my XXXX record has been frozen since XX/XX/XXXX and XXXX, XXXX, and XXXX records frozen since XX/XX/XXXX and federal regulations require they adhere to the Code of Federal Regulations and have/follow procedures to verify a customers identity in order to open an account. If they did verify using XXXX and XXXX like they have told me, it should have been impossible for them to verify and they should not have allowed the account to be opened. 

Title 31 - Money and Finance : Treasury Volume : 3 Date : XXXX Original Date : XXXX Title : Section 1020.220 - Customer identification programs for banks, savings associations, credit unions, and certain non-Federally regulated banks.

Context : Title 31 - Money and Finance : Treasury. Subtitle B - Regulations Relating to Money and Finance ( Continued ). CHAPTER X - FINANCIAL CRIMES ENFORCEMENT NETWORK, DEPARTMENT OF THE TREASURY. PART 1020 - RULES FOR BANKS. Subpart B - Programs. 

( ii ) Customer verification. The CIP must contain procedures for verifying the identity of the customer, using information obtained in accordance with paragraph ( a ) ( 2 ) ( i ) of this section, within a reasonable time after the account is opened. The procedures must describe when the bank will use documents, non-documentary methods, or a combination of both methods as described in this paragraph ( a ) ( 2 ) ( ii ). ( A ) Verification through documents. For a bank relying on documents, the CIP must contain procedures that set forth the documents that the bank will use. These documents may include : ( 1 ) For an individual, unexpired government-issued identification evidencing nationality or residence and bearing a photograph or similar safeguard, such as a driver 's license or passport; and ( 2 ) For a person other than an individual ( such as a corporation, partnership, or trust ), documents showing the existence of the entity, such as certified articles of incorporation, a government-issued business license, a partnership agreement, or trust instrument. ( B ) Verification through non-documentary methods. For a bank relying on non-documentary methods, the CIP must contain procedures that describe the non-documentary methods the bank will use. ( 1 ) These methods may include contacting a customer ; independently verifying the customer 's identity through the comparison of information provided by the customer with information obtained from a consumer reporting agency, public database, or other source; checking references with other financial institutions ; and obtaining a financial statement. ( 2 ) The bank 's non-documentary procedures must address situations where an individual is unable to present an unexpired government-issued identification document that bears a photograph or similar safeguard ; the bank is not familiar with the documents presented ; the account is opened without obtaining documents ; the customer opens the account without appearing in person at the bank ; and where the bank is otherwise presented with circumstances that increase the risk that the bank will be unable to verify the true identity of a customer through documents. ( C ) Additional verification for certain customers. The CIP must address situations where, based on the bank 's risk assessment of a new account opened by a customer that is not an individual, the bank will obtain information about individuals with authority or control over such account, including signatories, in order to verify the customer 's identity. This verification method applies only when the bank can not verify the customer 's true identity using the verification methods described in paragraphs ( a ) ( 2 ) ( ii ) ( A ) and ( B ) of this section.

On 1/19/2023 I contacted Bank of America as soon as I was aware of the account that had been opened. At XXXX XXXX I spoke with XXXX in Maryland in the " Check Fraud '' department who verified that yes the emails I received were legitimate and an account had been opened using my name and SSN, email address, physical address, and phone number. She did shut the account down and shut down the online banking access but would not provide any information on how they " verified '' my identity to allow this account to be opened. On XX/XX/XXXX I had a webchat with XXXX in Arizona who did confirm to me that they use XXXX and credit reports to verify before approving an application. And on XX/XX/XXXX XXXX at Bank of Americaconfirmed that XXXX is the credit reporting company that they use in addition to XXXX to verify and she told me that I obviously do not have my reports frozen because their system would never have allowed the account to be open if the freezes were in place. However I confirmed on XX/XX/XXXX and XX/XX/XXXX online that all above reports ( XXXX, XXXX, XXXX, and XXXX ) are in fact still frozen and no inquiries from Bank of America were reported on any of them, so if they attempted to verify my identity using to approve the online application they should not have been able to access any information and received a fraud notice. And on XX/XX/XXXX I verified with XXXX at XXXX and XXXX at XXXX over the phone that YES the freezes were still in place on both reports and NO there was NO inquiry done by Bank of America at either company. 

Bank of America has shut the account down and claims that they are researching the situation, but based on confirmed lies made to me by Bank of America that they " verified '' my application with XXXX and XXXX I don't believe that any accurate information will be provided to me about how in fact this account was allowed to be opened and why the identity verification steps were not taken.