A bank giant was refusing to reimburse a customer’s stolen money, that is until media stepped in to ask questions.
Cheryl Friedman of Norton, Massachusetts says she received a call from a scammer claiming to be an employee at PayPal, leading to the disappearance of thousands of dollars 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,” reports DH.
“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 cr*zy, 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.
Similarly, many Green Dot Bank customers have also been defrauded, though these customers have been experiencing frozen accounts between weeks to 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.”
Also Read: A US Bank Has Now Left Customers With No Money
Other Bank News For You
Green Dot Bank is preventing users access to their money in its biggest fraud scandal, one of which has also affected many retirees.
The bank, which says it has 33 million customers, is also being scrutinized by the Better Business Bureau over a “pattern and influx of complaints against Green Dot”.
However, the bank’s alarming activities persist.
Florida resident Mary Cannon is only one of many who says she’s still having trouble.
Cannon has been unable to access her IRS tax refund of more than $7,000 since mid-July.
She said there remains a suspicious-activity hold on her account that she believes is erroneous and that she has been unable to resolve with the bank.
“They giving me the runaround,” she said.
Many bank customers have been left unable to pay their bills for weeks, resulting in the use of high interest credit cards.
“My account has been on lock down for over 2 weeks waiting on a replacement card. Is anyone else getting cards? This is debilitating HOW CAN THEY JUST LEAVE ME WITHOUT ANY MONEY FOR FOOD OR RENT FOR OVER 2 WEEKS,” says Amanda Gannaway.
“From Az have not gotten my money since Wednesday. I have a family and bills I have to pay. I know when they fix this problem I’m getting my money and I’m gone like the wind, this is not right .🌋🌋🌋🤬🤬🤬. Just got done going through pandemic now this,” says Bobby Rivera.
Also Read: The US Treasury Direct is Now Freezing Customer Accounts
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors. This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Become a Sponsor for only $1/mo.
- Gain access to EXCLUSIVE FrankNez articles you won’t find here.
- Become part of a private and safe Discord community, just for retail investors.
- Get drawn at the end of the year for holiday giveaways.
Recommended For You ✨
About The Author
Leave your thoughts below.