Consumer complaint received 2025-11-26 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:
I am a Bank of America customer, and on XXXX XXXX, h I became a victim of a highly sophisticated bank-impersonation scam that resulted in an unauthorized {$37000.00} wire transfer from 2 different savings accounts where the money was transferred from my business line of credit, as well as fraudulent charges on my XXXX  XXXX credit cards on the same day ( the XXXX  XXXX charge has been returned to me and I am not complaining about this, just BofA ). I have now filed this claim four separate times, yet Bank of America continues to deny it, and I can not get any clear information on how to resolve the situation. 

The first two times I filed, the claim was flagged as fraudulent, but I was told by a bank phone employee that critical information including that scammers gained remote access to my computer was not included by the first representatives who took my report. The third time, the claim was submitted as a scam, and I was told the bank had 90 days to attempt to recover the funds. After that period, I was notified that they could not get the money back, and the case was closed. This is unacceptable. Whether the bank can retrieve the funds from the receiving bank does not change the fact that I did not authorize these transactions. 

At no point did I knowingly authorize a wire transfer, the use of my line of credit, or any charges on my credit card. I never verbally told anyone that they could move money, initiate a transfer, access my accounts, or take any action with my credit. I responded to what looked like a legitimate Bank of America fraud alert and was immediately contacted by someone spoofing the banks number. This person had detailed knowledge of my accounts, spoke like a real Bank of America representative, and instructed me to install remote-access software under the belief that this was necessary to secure my information. I believed I was speaking with legitimate Bank of America fraud-prevention staff who were helping me protect my accounts. I did not authorize any transaction of any kind. 

After realizing I had been deceived, I removed the remote-access software and attempted to report the fraud. I faced hours-long hold times, disconnections and inconsistent guidance. Many Bank of America representatives have been incompetent, accusatory, rude and unhelpful. Their attitude and lack of support have made this process extremely distressing. I am a victim not only of this crime, but also a victim of Bank of America. 

While this dispute remains unresolved, the Line of Credit Department has started withdrawing money directly from my business accounts without any notice, although the debt was created through criminal activity. These withdrawals are causing severe financial hardship. I can not pay myself or my employees, and my small business which supports my family is now at risk of failing. This situation has taken an enormous emotional toll on me and my family and has greatly impacted our stability and well-being.

I am requesting that the CFPB require Bank of America to : Recognize this as an unauthorized credit transaction Reverse the denial and remove the fraudulent {$37000.00} debt Refund all overdraft and related fees Immediately stop automatic withdrawals and collection efforts Ensure a proper review under the Truth in Lending Act ( Regulation Z ) Assign my case to someone trained in social engineering and remote-access fraud Investigate the related fraudulent charges on my Bank of America credit card I acted in good faith, responded to what I believed were legitimate bank instructions, and have done everything possible to report and resolve this. I urgently need assistance, as the financial and emotional harm is becoming unsustainable and I can not resolve this on my own.

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