Customers’ stolen funds reportedly cannot be refunded by Bank of America until the media starts asking questions


A client had her account emptied by a fraudster, but one of the largest banks in America allegedly failed to pay her until it was questioned by the media.

CBS Boston reports that a woman named Cheryl Friedman from Norton, Massachusetts had thousands of dollars stolen from her Bank of America account after receiving a phone call from a fraudster posing as a PayPal employee.

Friedman claims that just before the thief phoned her, she was assisting a friend with a problematic PayPal return, so she first took the call seriously since she thought it was from PayPal.

“I thought this was coming from a legitimate PayPal user via the app, so I said ‘ok.'” The automated voice then provided Friedman with a link, which she followed in order to “verify” her account. That’s when she saw her bank account balance dropping.

“They were paid $3.5k. My first thought was, “There’s no way this could actually happen,” and I think that’s a reasonable attitude. Furthermore, I can not comprehend how the individual gained access to your phone.”

A lady in Massachusetts who suspected fraud filed reports with police and Bank of America, but her claim was first rejected and then repeatedly delayed.

Then, CBS Boston claims to have intervened and recovered Friedman’s stolen funds. BofA reimbursed Friedman’s money when CBS started asking the bank about the loss, claiming to have received fresh information from Friedman.

Friedman that BofA installs more barriers to prevent unauthorized cash transfers. “I hate to see anybody else get caught into this because I feel so stupid. Unfortunately, I’m also furious with my bank since they failed to detect the transaction as suspicious and provide enough fraud protection.”

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