Bofa dispute transaction11/27/2023 Zelle asks victims to report scams, and offers these tips: "We're going to need legislators and regulators to step in and remind the banks of their responsibility to clamp down on these frauds," Court urged. Under current laws, he says most liability is falling on consumers. So, you got to rely on them to do it out of the goodness of their heart and big financial corporations don't do much out of the goodness of their heart," said Jamie Court, President of Consumer Watchdog.Ĭourt says, banks need to be proactive in warning consumers about possible scams utilizing the Zelle app. "They don't have an incentive to police for fraud and scams, because they're going to make the money if the scam goes through or not. There are reimbursement policies in place for consumers who lose money through unauthorized transactions, but no such safeguards for people tricked by fraudsters. banks: Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Zelle's parent company, Early Warning Services, is owned by seven U.S. To raise awareness about potential scams, we periodically reach out to customers with information about how to stay safe and we keep clients informed about new scams through our Security Center. Don't transfer money as a result of an unexpected text or call." To move forward with the transaction, they need to click OK. Additionally, they see: "BEWARE: Bank of America will never ask you to transfer money to anyone, including yourself. We alert clients during the transaction if they are sending money to a new recipient that they should only send to people they know and trust. In cases like this, we attempt to get the money back from the receiving bank however, there is no guarantee since the customer has authorized the payment. It's unfortunate when people fall for scams like this. The Let Joe Know team reached out to Bank of America, asking if Kari's transactions would be reversed.Ī bank spokesperson emailed us this statement: Kari disputed the transactions with Bank of America's fraud department but she was denied.Įven though Kari authorized the transactions under false pretenses, since she did authorize them, the bank does not recognize it as fraud. "I felt sick to my stomach," she said remembering the moment the funds left her account. Kari did it and she lost more than $1,800. They asked her to hit 'OK' authorizing the transactions so the bank could then dispute them. The scammer told her there were multiple Zelle transactions on her account. However, the phone number matched the number on her bank card, so Kari didn't question the call further. It happened to Kari.īut the person on the phone wasn't actually with Bank of America, they were a scammer, posing as an employee. PHOENIX - A call from your bank, claiming there are fraudulent charges on your account.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |