There have been a lot of issues with the US banks lately, and they seem to continue as we speak. Check out the latest reports about Bank of America which reportedly seems to be refusing to reimburse customer’s stolen funds.

Bank of America and stolen funds

A major American bank initially declined to reimburse a customer who fell victim to a scam, but eventually relented after the incident gained media attention.

Cheryl Friedman, a resident of Norton, Massachusetts, was targeted by a fraudster posing as a PayPal employee, resulting in thousands of dollars being siphoned from her Bank of America account.

Friedman had been assisting a friend with a refund through PayPal shortly before the illicit call, leading her to believe it was genuine. CBS Boston reported on the incident.

“So I said ok, thinking this is coming legitimately from somebody on PayPal and through the app.”

As reported by the online publication the Daily Hodl, Friedman then clicked a link sent to her by the voice over the phone in order to supposedly verify her account.

After a considerable sum of money was deducted from her bank account, a Massachusetts woman expressed her disbelief and confusion. She stated that a whopping $3,500 had been taken and that she was amazed that someone could gain access to her phone like that.

The woman reported the fraud to both the police and Bank of America. However, her claim was denied for a few months, until CBS Boston intervened.

The news channel started questioning BofA about the theft, and the bank refunded the stolen money after receiving new information from the victim.

According to Friedman, BofA should have more safety measures to prevent such suspicious cash movements. She admitted to feeling foolish about the incident but is furious at her bank for not flagging it and providing better fraud protection.

She said that she hopes that others won’t fall into a similar situation and that her ordeal will serve as a warning.

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