Consumer complaint received 2026-05-25 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: BANK OF AMERICA, NATIONAL ASSOCIATION

Complaint narrative:
SUBJECT : Gross Negligence, Identity Theft, and Violation of KYC/Patriot Act Regulations by Bank of America and XXXX XXXX resulting in a {$130000.00} financial loss.To whom it may concern, I am writing to file a formal complaint against Bank of America , N.A . and XXXX XXXX XXXXXXXX. for gross negligence, systemic failures in Identity Theft prevention, and severe violations of Know Your Customer ( KYC ) guidelines under the USA PATRIOT Act, which resulted in the total theft of my life savings amounting to {$130000.00}. 1. Bank of Americas Gross Negligence : My wife and I maintained an active account ( No.XXXX ) with Bank of America in XXXX, FL, for over 10 years with flawless standing. On XX/XX/year>, Bank of America abruptly closed our account without our consent. Despite knowing we resided in XXXX, Bank of America acted with extreme recklessness by issuing an official check ( Check No. XXXX ) for {$130000.00} and mailing it via regular/ordinary international mail without any tracking number or security protocols. This instrument was intercepted by a criminal network. 2. XXXX XXXX Severe Compliance Failures ( KYC/Identity Theft ) : On XX/XX/year>, XXXX XXXX employee XXXX XXXX ( XXXX XXXX : XXXX, XXXX XXXX ) allowed criminals to open a fraudulent joint checking account ( Account No. XXXX ) using our stolen identities. XXXX XXXX failed to properly verify the physical address, allowing a fraudulent address ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) to be registered. Furthermore, on XX/XX/year>, XXXX XXXX accepted and cleared the Bank of America check for {$130000.00} into this fraudulent account. The check endorsement contains fraudulent signatures and an illegal mandate to deposit into an account we never opened or authorized. 3. Execution of Fraud and Lack of Remedy : According to XXXX XXXX official certified records ( attached to XXXX Police Case No. XXXX XXXX ), the criminals completely depleted the funds between XX/XX/XXXX and XX/XX/year>, through rapid ATM withdrawals, fraudulent checks, and XXXX transfers to individuals named XXXX XXXX and XXXX XXXX XXXX, leaving an ending balance of {$2.00}. We have attempted to resolve this with both institutions. Bank of America claims the account is closed and refuses to take responsibility for their unsafe mailing practices. XXXX XXXX has closed the fraudulent account but has not reimbursed our stolen funds despite clear evidence of identity theft and check fraud.As victims residing abroad, we are defenseless against the lack of security measures from these major U.S. financial institutions. We request that the CFPB investigate Bank of Americas negligent mailing practices of high-value negotiable instruments and XXXX XXXX failure to prevent fraudulent account openings under federal law. CRITICAL EVIDENCE OF COMPLIANCE FAILURE ( NAME DISCREPANCY ) : There is an undeniable and fatal failure in the verification process by both financial institutions. Bank of America issued the official check ( Check No. XXXX ) with our correct legal names : " XXXX XXXX XXXX '' and " XXXX XXXX XXXX XXXX XXXX '' ( spelled with XXXX ). However, XXXX XXXX opened the fraudulent account ( Account XXXX. XXXX ) under our names ( spelled with XXXX, along with a typo in the first name " XXXX '' ). XXXX XXXX grossly violated standard banking regulations by accepting and clearing a high-value negotiable instrument ( {$130000.00} ) into an account where the surnames did not match the payee line of the check. Simultaneously, Bank of America failed in its duty of care by clearing and honoring this official check despite the clear and obvious discrepancy between the payee names and the fraudulent endorsement. This mismatch should have immediately triggered a fraud alert and halted the transaction. Its clearance proves systematic negligence by both banks. We demand a full reimbursement of our {$130000.00}, in addition to the expenses incurred for legal assistance. Sicerely yours, XXXX

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