Consumer complaint received 2025-04-23 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: NBT BANCORP INC.
State: NY

Complaint narrative:
Subject : Formal Complaint Regarding Security Breach To Whom It May Concern, I am writing to file a formal complaint against NBT Bank concerning a serious breach of security that has led to a significant personal financial loss.

Recently, I fell victim to an elaborate online scam that resulted in a loss of {$20000.00}. The incident began when I received an email purportedly from XXXX, claiming that a payment had been processed from my NBT account. Upon receiving this email, I contacted the phone number provided and spoke with an individual named XXXX. He expressed apologies for what he termed a misunderstanding and assured me that he would process a refund for a purchase I had not made. 

During our conversation, XXXX had full access to my NBT bank account details, at no point did I provide an account number or routing number, claiming he would initiate the refund in two separate payments. However, what transpired was alarming : he " accidentally '' deposited {$21000.00} into my NBT checking account. During this call, he expressed concern about potentially losing his job and mentioned he had a family to support. Out of compassion for his situation, I engaged further, believing this was a misunderstanding. 

XXXX then suggested that if I withdrew the mistakenly deposited money, he would send someone to collect it from me at my home. Trusting him, I went to my local NBT Bank and withdrew {$20000.00}, with XXXX providing instructions throughout the process to alleviate any concerns I had. Surprisingly, it was only after speaking with my daughter that I realized I had fallen victim to a scam after handing off {$20000.00} cash. Upon reviewing my account details, I discovered the funds were not deposit from XXXX  but instead using my online banker the scammer had transferred {$21000.00} of my own money from my savings account to my checking account. 

I am devastated by this experience. I did not share my NBT bank information, the scammers had gained full control of my laptop and full control of my NBT online banker accounts, manipulating various functions while I remained on the phone with XXXX. As a XXXX man with a limited understanding of online security, I relied on NBT Banks assurances of a secure banking environment. This incident has not only robbed me of my savings but has also caused irreversible emotional distress, exacerbating my existing health conditions, which include XXXX XXXX and XXXX. 

I have filed a police report with the XXXX XXXX XXXX office, but I feel compelled to bring this situation to your attention as NBT Bank 's protocols failed to protect me during this incident. The security of funds in the bank should be a priority, and I am gravely concerned about how this breach occurred. 

I urge you to investigate this matter thoroughly and take immediate action to enhance security measures to prevent future incidents like mine. It is critical that customers can trust their banks to safeguard their personal and financial information. 

Thank you for your attention to this serious matter. I look forward to your prompt response.

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