Consumer complaint received 2025-02-20 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: MD

Complaint narrative:
On XX/XX/year>, I received a text message from who I believed to be my bank informing me that someone was attempting to send a XXXX transaction in the amount of {$3500.00} and to reply " NO '' if I did not authorize this transaction. I responded no and shortly after ; I received a call from someone who I believed to be a Bank of America rep. I was placed on hold for the " rep '' to cancel the XXXX transaction. When the rep returned to the line, he informed me that while attempting to stop the XXXX transaction, someone was attempting to send a wire transfer for a large amount of money. I told them that I did not approve any wire transfers. The representative then began to walk me through a process that would stop the transaction, but he was really walking me through how to send a wire transfer. I was under the impression that I was being helped, and the scammer cleared all of the money out of my account in the amount of {$5700.00}. I was told to transfer all of my savings to my checking which was a huge red flag, but the scammer was very professional and seem to be helping me. I am filing the complaint today, because my bank notified me on XX/XX/XXXX that they were not successful in recovering my funds. To me, this is completely unacceptable. I have been banking with Bank of America for XXXX and never had many issues, but this situation has made me consider switching banks all together. This has caused me plenty of pain and suffering and a complete hardship due to this scam happening XXXX before my son 's birthday, and a month before XXXX. I am aware that scams happen every day, but {$5700.00} is a huge lost to take for a single mother of two young children. I have been doing research and before taking legal action this seems like a great way to settle without the hassle of the courts. While researching, I came across the XXXX which is the Electronic Funds Transfer Act that protects Consumers from scams just like mine. This act holds the bank accountable to return the funds to Consumers for unauthorized transactions. As long as the transactions is disputed within 60days, this act protects me and my funds. The bank was notified within an hour or XXXX on XX/XX/XXXX, the day that the scam occurred. I did allow the bank to do an investigation as their due diligence of the claim that I filed, but because they were not able to recover my funds, I would like to begin taking the next steps. I did report this incident with the XXXX Police Department on XX/XX/XXXX as well. The indecent number is XXXX and the detective 's name is XXXX XXXX. Her contact information is XXXX and her email is XXXX if you need to contact her for any reason. I will not give up until I receive my funds, so I really hope that you guys can help! I appreciate your time and hope to hear from someone soon.

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