Checking or savings account -- Managing an account -- Complaint #5835814
Complaint Overview
Complaint ID: 5835814
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Banking errors
State: Michigan
ZIP Code: 48066
Date Received: 2022-08-02T12:00:00-05:00
Date Sent to Company: 2022-08-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
I opened two fraud cases with Bank of America after I was scammed by individuals who took control of another Bank of America owners account. I transferred {$24000.00} to the hacked account over several days and made the final {$6000.00} at a Bank of America branch office. I open a fraud case within 8 hours of the final transfer and before the transfer had cleared ACH. Bank of America failed to freeze the suspect account and allowed the transfer to clear and the scammers to withdraw those funds. I received no relief from Bank of America and feel they failed to protect their customers from fraud in this case. I feel the banks anti fraud systems should have flagged the unusual activity on the high jacked account and should have prevented this string of events from occurring. Bank of America replied to my 2 fraud complaints stating the bank completed the transactions per my request and did nothing wrong. I need Bank of America to explain how an elderly owners account can be taken over by scammers and unusual activity failed to trigger their anti fraud processes. XXXX XXXX XXXX XXXX and need some explanations in this case. Thank you
Frequently Asked Questions
What is Complaint #5835814 about?
Complaint #5835814 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-08-02T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Bank Of America, National Association?
Yes, visit the Bank Of America, National Association company profile at readthecomplaint.com/company/bank-of-america-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.