Consumer complaint received 2025-01-31 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
There are 2 parties involved in this issue. One is Bank of America which is my bank and XXXXXXXX XXXX  which is the customers bank. XXXX Authorized on various occasions a bank transfer for their client. It has been over a month since the initial transaction. Today they are claiming it is fraud. The bank transfer was authorized by XXXX XXXX and disbursed by Bank of America into my account in which the bank transfer has been cleared for a substantial amount of time. There are invoices for each transaction and proof the items were delivered. 

XX/XX/XXXX- {$52000.00} XX/XX/XXXX- {$46000.00} XX/XX/XXXX - {$52000.00} Today they decide it is ok to place my funds on hold without any proof totaling {$150000.00} dollars in which my company is being negatively affected in turn which I may go bankrupt and lose my entire business and lay off my employees due to their due process which they inform me can be from 60-90 days, which may cause me to also lose my home as well as not being able to help my family that greatly depends on me. I can not operate as needed. Bank of America which has never had an issue with me and knows my account activity which involves many transfers on a weekly basis due to us being in the jewelry business. BOA took steps without asking me for any proof toward these biased claims by XXXX XXXX. Currently I am being defrauded by XXXXXXXX XXXX  and their client at this moment. Bank of America isn't taking the decision to stand by me. If any issue is in question these transfers are 100 percent the responsibility of XXXXXXXX XXXXXXXX for not having the proper security measures in place to protect their client. I have done nothing wrong and have proof from messages, to photos, to voice recordings and XXXX at XXXX where the client picked up goods and signed for packages with an ID. I can not understand how Bank of America can even do this to me a client who has been nothing but good to them. XXXXXXXX XXXX is committing fraud and I have the proof which I have sent to BOA. I can't understand how Bank of America would put me in this situation without any physical proof and a false claim by XXXXXXXX XXXX. My mental health is also taking a toll as well as I have trouble sleeping and eating due to this situation. How can a wire transfer be fraudulent if the transfer has been approved by the individual clearly and was sent by XXXX XXXX Especially when sending wires includes so many protocols and procedures before it actually sends, there are also time stamps on the actual wire confirmation photos. I don't have the 3rd transaction confirmation due to the smooth transactions we had. But the other 2 it clearly states it was approved by him with time stamps and more then sufficient time if this was 'fraud '. Simply put this is not fair and I am not at fault for any negligence on XXXXXXXX XXXX part. How can someone not notice {$150000.00} dollars worth of transactions and put a claim over a month later for 2 of them after receiving items and clearly stating they received it in one of the messages. XXXX bank is clearly aiding in the committing of FRAUD toward me and my business while Bank of America has me on the sideline without any support and simply helpless. I couldn't pay 2 of my employees this week their commissions due to this.

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 non-monetary relief