Consumer complaint received 2023-01-24 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX

Complaint narrative:
On XX/XX/XXXX I received a phone call from the number XXXX and it showed up on my cell phone as Bank of America. I answered the call as the number was correct for Bank of America. A person who called themselves XXXX XXXX and said he was from the fraud department with an XXXX XXXX XXXX XXXX  said that a purchase had been declined at a XXXX XXXX XXXX XXXX XXXX for the amount of {$1600.00} and he wanted to know if I was trying to make the purchase. I said no I was not as I was currently in my home in XXXX. He then stated that it showed XXXX payments being processed via XXXX and if I had made XXXX for {$690.00} and XXXX for {$140.00}, and which I replied I had not. While I was on the phone I logged into my online banking with Bank of America and he said I would be receiving an access code in which he gave to me as XXXX. He said he could see the transactions being processed with XXXX and he was reversing them and they would show back in my account within XXXX hours and I would be receiving a new debit card in the mail in XXXX business days. He told me to regress XXXX and the reverse transaction should show up under XXXX. As I was refreshing the page online that is when I saw the access code he gave me was actually a phone number that had been added to my XXXX contacts with the number for a person named XXXX XXXX. I do not know this person nor did I add them or send them money via XXXX. As I was trying to tell him the reversal wasnt showing up he hung up on me. I realized then my bank account had been hacked and I immediately called Bank of America to report the fraud. I told the customer service agent named XXXX in the fraud department what had just happened and she said hackers are using an overlay program so the banks number shows up on a persons phone so it looks legit and then they pretend to verify if you made purchases and sent transactions and hack into your account to send themselves or other scammers XXXX transfers. I made XXXX claims with her. Claim # XXXX for my checking account : XXXX for the amount of {$140.00} and Claim # XXXX for my savings account : XXXX for the amount of {$690.00}. XXXX advised me that since the funds were sent via XXXX that Bank of America doesnt control whether my money is protected and put back in my accounts but that it would be XXXX XXXX would investigate and that would take XXXX days. She also advised me to delete the recipient XXXX XXXX from my XXXX since my online banking had been hacked and I dont know who that person is ; I did as she suggested. I followed up with Bank of America XXXX department on XX/XX/XXXX to see if there was an update and when I would be getting my money returned and she said Claim # XXXX had been closed and that they did not find fraud since the transaction was entered in XXXX from my account, however, they would try to contact the recipients bank to report the fraud and have my money returned to me. Claim # XXXX was still open for investigation and advised the same to me. I then repeatedly told the person I was speaking to that I did not transfer the money via XXXX and that my account was hacked and the recipient who I do not know was entered in my contacts and she said there was nothing more she could do. I received XXXX letters from Bank of America on XX/XX/XXXX regarding my claims in the mail with letters dated XX/XX/XXXX both stating XXXX completed our review and are unable to approve your recent claim. XXXX completed our review of your claim. Our records indicate that we completed the transfer ( XXXX ) according to the instructions you provided us, therefore no error occurred. Based on this, your account wont be credited. Well obviously the transfer was completed according the the instructions provided but that was not me who initiated the XXXX transfers as my online banking was hacked and I am a victim of a scam. I called up XXXX customer service on XX/XX/XXXX at XXXX and the automated system says if there is an issue with a transaction to call your bank. I called Bank of America again on XX/XX/XXXX regarding the letters I received about my XXXX claims being denied and was told there was nothing they can do as it is part of XXXX and the funds were not able to get recovered from the bank XXXX XXXX XXXX ( XXXX XXXX ). I told the agent that again I was hacked and money was transferred to someone I do not know and when you call that phone number for XXXX XXXX it still rings so the number is turned on. I was advised to contact the FDIC which I will be doing as well.

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 monetary relief