Consumer complaint received 2026-05-26 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
XX/XX/year>, I received a call from Bank of America asking if I authorized a transfer of {$65000.00} out of our combined personal and business accounts. I immediately responded that I did not authorize the account however did not provide any further information on the telephone for fear of an imposter call. My wife and I, who are both on the accounts, immediately went to the local branch and the representative at the branch called Bank of America to file these claims. The representative on the phone filed an individual claim for each affected account totaling {$65000.00}. We were informed by the representative from Bank of America that the joint account was made online with my wife and then subsequently {$65000.00} was transferred from that joint account to another XXXX Bank of America account outside of our online portal. We did not authorize this transfer and were not asked for any information in order to create this account. We do not know the person who created this fraud against us. We were never asked to verify the person creating the joint account. There was never a time that the bank contacted us before this account was created.No forms of ID were given on our part to create this account. After XXXX weeks, we were notified by Bank of America that the funds were in fact authorized as they were made by trusted device. We were also told after contacting the claims department at these claims initially were filed incorrectly and should be filed as a fraud. We proceeded to file the appropriate fraud statements and other documentations required of us from Bank of America. We filed a police report. Identity theft was also filed with the Federal Trade Commission. After several letters to Bank of America, we were notified that the resubmission again was denied due to the fact that this was a trusted device. I received a call from a representative from the XXXX XXXX department XXXX Bank of America that was assigned to my case. Unfortunately I am still given the same information being that this transfer was made from an authorized device. The bank denied the claim based on the assertion that the transactions originated from a trusted device or recognize IP address associated with our office network. However, the office network is shared among XXXX separate computers and multiple users. The XXXX address alone can not identify which specific device initiated the transaction or establish that the activity was authorized by me or my wife. The bank appears to have relied primarily on IP address recognition without adequately considering the possibility of unauthorized access occurring through XXXX of the ooffice computers. It remains possible that device on the network was compromised, remotely accessed, infected with malware, or otherwise use without authorization. Modern fraud schemes frequently involve phishing, malware, remote desktop access, session hijacking, stolen browser authentication tokens, or unauthorized access to already authenticated devices. In these situations, fraudulent activity can appear legitimate despite being unauthorized. Neither my wife or I knowingly authorize the disputed transactions. We reported the matter promptly and in good faith after discovering unauthorized activity. We respectfully request that the CFPB assist in ensuring that Bank of America conducts a reasonable and thorough investigation and reconsider reimbursement for the unauthorized transactions. Please note that a joint account was opened with my wife and the fraudulent party. Obviously we do not authorize this. I was under the understanding that for both personal and business accounts creating a joint ownership, an appointment must be scheduled in both parties need to attend. This was not the case.

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