Bank of America Reportedly Refuses To Reimburse Customer’s Stolen Funds – Until Media Begins Asking Questions
One of America’s biggest banks reportedly refused to refund a customer who had her account drained by a scammer – until the bank faced questions from the media.
Cheryl Friedman of Norton, Massachusetts says she received a call from a scammer claiming to be an employee at PayPal, leading to thousands disappearing from her Bank of America account, according to CBS Boston.
Just before the criminal called her, Friedman says she was helping a friend with a complicated refund on PayPal, leading her to believe the call was legitimate.
“So I said ok, thinking this is coming legitimately from somebody on PayPal and through the app.”
Friedman then clicked a link sent to her by the voice over the phone in order to supposedly verify her account.
That’s when money started to leave her bank account.
“They got $3,500. I think, one, I think it’s crazy, my initial reaction was I can’t even believe this could happen… And I don’t understand how someone can access your phone like that.”
The Massachusetts woman reported the fraud both to the police and to Bank of America, but her claim was denied for months.
Then, CBS Boston says it stepped in and got Friedman’s stolen money back. Once CBS began questioning BofA about the theft, the bank said it had received new information from Friedman and refunded the money.
Friedman says BofA should have additional guard rails to protect against potentially suspicious moves of cash.
“I feel foolish but I don’t want anyone else to get sucked into it. I feel also, just unfortunately, angry at my bank for not flagging it and not having better fraud protection.”
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Author: Alex Richardson
