Pissed Consumer - Bank of America permits Fraud account deductions

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Bank of America permits Fraud account deductions

May 20, 2008

Bank of America complaint by Sprint48

If you have any accounts with Bank of America (BankAmerica or BoA) get your money out NOW and put it in another bank or credit union.

With all the mergers, etc. they are losing money faster than they can steal it from your account.

Here's the story: BoA has no internal security or cross check of your account. You write a check to someone and that provides your complete account number. Anyone can then have their credit cards or utility bill paid out of your account by requesting AutoPay every month against your number. It's up to YOU to find it and fix it!! I've been chasing them for 5 months with no cooperation, so it will have to go to court and on CNN

In addition, BoA is apparently screwing up corporate accounts even worse.

Bank employees are told to say either this is untrue or they are "working on it"

My info came from personal lose and information from a former BoA internal security employee.

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Comments (3)

1. Written by esd, on 22-05-2008 01:46

World of Warcraft Gold, silkroad gold, silkroad accounts,

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2. Written by C, on 21-05-2008 17:34

Little do you know about how banking works. So, I would recommend you better not preach what you don't know about.

If someone would use somebody else's details to pay his credit card/utility bill it would be a federal crime. Feds will be knocking on your door sooner if not later.

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3. Written by James G, on 20-05-2008 22:27

I have to dissagree even if true. Consumers will notice and as if fraudsters will pay thier utillities and CC bills giving thier identity away.

I'm sure big banks in this country have adequate security.

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