Consumer complaint received 2026-06-24 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: NC

Complaint narrative:
Letter to CEO of Bank of America Dear XXXX XXXX, XXXX writing in hopes of receiving your help in recovering funds that were taken from me as part of a scam conducted by one of your customers. I would like to submit an escalated complaint as well as a possible concern about elder abuse. As embarrassed as I am about being taken advantage of, my expectation is that Bank of America does the right thing, holds fraudsters accountable if possible, and protects innocent customers. While I was the sending party in this situation to one of your account holders, Ive also been a Bank of America credit card holder for 27 years. In early XXXX, I participated in what I thought was an online auction ( OTMAuctions ) and purchased a vehicle. I researched the company, the processes and went through countless reviews on their process and reputation. I was comforted that they were doing business with a reputable bank such as yours. Their process included sending XXXX wires from my current bank ( XXXX XXXX ) for {$15000.00} ( on XX/XX/year> ) to XXXX XXXX XXXX and another for {$15000.00} ( on XX/XX/year> ) to XXXX XXXX XXXX. On XX/XX/XXXX, XXXX of your diligent employees reached out to me from your fraud team, expressing concerns about the validity of the transaction and the company. Shortly after your call, XXXX reached out as well with questions, concerns, and they referenced outreach from Bank of America. This gave me pause for concern and I did further research while partnering with XXXX. We quickly determined this was fraudulent and a claim was filed on my behalf with XXXX to recover the funds. Bank of America is claiming there are no funds to recover as the recipient immediately took the funds out. I am confused on why funds would have been disbursed if fraud was suspected. The end result is that I am now {$31000.00} in the deficit and do not have the vehicle I thought I was purchasing. I work for XXXX XXXX and am familiar with the regulatory mandate to know your customer and to put customers first while protecting them from financial harm. I lived through sales practices issues and work with a group that puts our customers first even if it means we ( the bank ) have to make it right at our expense. I am asking that Bank of America return the money that was taken to my account at XXXX XXXX and do their best to deal with the fraudulent customer appropriately. Please let me know who I can connect with for more details. I am copying my fraud contact at XXXX ( XXXX XXXX : XXXX ) on this e-mail as well in hopes that we can come to a favorable outcome. Thank You. * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Since then, XXXX researched public information available and discovered that Bank XXXX XXXX ' customer was an XXXX, only in existence for a short period of time, under a Serbian politician 's name. The address was a residence in XXXX XXXX, raising more suspicion. I quickly notified Bank of America of the information to assist in their investigation of their fraudulent customer. On XX/XX/XXXX, {$26000.00} of the {$31000.00} was returned to my XXXX account, leaving {$4200.00} still outstanding. Bank of America did not know their customer and distributed the funds AFTER identifying fraud concerns. My expectation is that the entire amount of the funds be returned ( {$4200.00} remains ).

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