Consumer complaint received 2024-08-13 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
Amount stolen is {$42000.00} Attention : Check Fraud Claims Im writing to dispute the resolution to claim number XXXX. Based on your conclusion, there is much more information that needs to be considered in this matter. I will elaborate below. 
On XX/XX/year> I received a text message on my mobile device to approve a transaction from a XXXX XXXX in New York ( I was not in New York ). It looked somewhat suspicious and did not come from other numbers I had seen from BofA so I ignored it. 
The next day I received a call from an XXXX number. The person identified themselves as a BofA representative and indicated that there was a fraud on my debit card coming from a XXXX XXXX. I then assumed that the text I received the previous day was, in fact, legitimate so I engaged with the person. They gave me an elaborate story about how the card had been installed on someones device, that the card needed to be replaced and my account was potentially at risk for further fraud so other measures needed to be taken to secure my account. 
They started sending transaction approval PIN requests indicating that this was needed to properly secure my account. I had used PIN numbers before to authenticate myself so I was not alarmed at first. As this went on for 4-plus PIN requests I started to get suspicious. I then logged into my BofA account and saw the wire transfers in process as well as a $ XXXX funds transfer from my XXXX account. I knew then that something was up. I hung up the phone and called my wealth managers office. 
So they had my phone number and my BofA credentials to set up a pretty elaborate scheme. 
Here are some other facts to consider here. 
1. My IP address was NOT used to conduct these transactions. I logged into my account and saw that the transactions were being initiated, however, it was not by myself. The actual initiation of the transactions MUST have taken place from a device that was never used with my account previously. 
2. I never gave access to my devices ( phone or computer ) to anyone before, during, or after this incident XXXX. Someone was logged into my account and conducting these transactions while they were speaking to me. In fact, they must have been logging into my account as the phone call started. I have never shared my BofA credentials with anyone so I have no idea how they were able to log into my account. I never received any notification that an unrecognized IP address was accessing my account. 
4. As soon as I knew the call was fraudulent, I contacted XXXX XXXX office and they helped me get to the fraud dept. They indicated that some of the transactions were in process and tried to contact the dept that could stop them. The person indicated that the dept had closed and did not respond to email. So these transactions could have potentially been halted. 
5. Also shocking to me was that they were able to transfer funds from my XXXX account. I had no idea that account could be accessed online. There was not nearly enough funds in my BofA checking account for these wires to be processed. 

In my view, this was a very elaborate scheme and simply looking at PIN numbers does not convey the entirety of the situation. I have no idea how your systems could have allowed this to happen. 
Im asking that you reopen this investigation given the facts I have provided. 
Thank you XXXX XXXX

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