Bank of America
Bank of America has been named in 4 documented digital harm incidents. The most common harm domain is Fraud & Financial, followed by Unknown.
Documented Incidents
4Two Chicago women defrauded via tap-to-pay scam using fake funeral donation paperwork, with $3,000 and $2,500 stolen by scammers using PayPal business accounts linked to inactive construction companies
Two women in Chicago were scammed in separate incidents where con artists claimed to be collecting donations for children's funerals and used tap-to-pay devices to steal thousands of dollars. Estelle Fisher was approached in the Ravenswood neighborhood and charged $3,000 after being shown what appeared to be legitimate donation paperwork. Kelly was targeted in Lincoln Park and charged $2,500 after being pressured to use her phone’s wallet for a tap-to-pay donation. Both victims were not given receipts and later discovered the fraudulent charges through bank alerts. Kelly’s bank, Wells Fargo, initially denied her fraud claim, but PayPal refunded her after media involvement. Estelle’s bank, Bank of America, initially denied her claim but later reversed the charge after she filed it as a billing dispute. The scammers used PayPal business accounts linked to construction businesses with no apparent active operations.
Marine Corps veteran loses $2,500 to AI-generated Golden Eagles scam on Telegram
A Marine Corps veteran from Pittsburg, California, lost $2,500 after purchasing 324 collectible "Golden Eagles" based on AI-generated videos of Donald Trump, Bank of America’s CEO, and Elon Musk promoting the scam. The scam promised that the $59 coins could be traded at Bank of America for over $100,000 each, leading the victim to believe he could become a millionaire. The videos, viewed on Telegram, falsely claimed the coins were genuine and backed by Trump and major corporations. Experts confirmed the coins contained no gold or silver, being mostly copper and other base metals. The victim later returned some of the coins and received a partial refund of about $600 from his credit card processor for recent purchases. Bank of America and Tesla have both denied any involvement in the scam.
32-year-old Maryland man defrauds Upper Gwynedd resident of $2,500 via Facebook Marketplace PS5 scam and Venmo payments
A Maryland man allegedly kept $2,500 from a Facebook Marketplace PS5 scam involving an Upper Gwynedd resident. Christopher Bijan Shahsavar, 32, of Silver Spring, MD, accepted two payments from the victim for a PlayStation 5 Pro listed on Facebook Marketplace and then blocked the victim on social media and Venmo. The victim sent $1,250 on September 27, 2024, and another $1,250 on October 24, 2024, via Venmo to an account linked to Shahsavar. Shahsavar was charged with felony counts including dealing in proceeds of unlawful activity, theft, theft by deception, and receiving stolen property. On February 17, 2025, Shahsavar allegedly confessed to the theft and admitted he had no intention of delivering the product. He is free on $10,000 unsecured bail, with a preliminary hearing scheduled for February 27, 2025.
California man loses $38,000 in SIM-swapping attack on Bank of America and Robinhood accounts, partially recovered after months
A California man lost $38,000 in a SIM-swapping attack when a fraudster transferred his phone number to a new device in September. The hacker used two-factor authentication codes to access his Bank of America account and made three wire transfers totaling $38,000. The first $20,000 was sent to a Wells Fargo account linked to a convicted felon, while the remaining $18,000 went to the victim’s Robinhood account. After months of fighting with Bank of America and Robinhood, the victim received a partial refund of $20,000 in January and the remaining $18,000 in February. The victim added a PIN to his phone account and switched to a new carrier to prevent future SIM swaps.