A 74-year-old customer, Henry Waleczko, lost $70,000 from his account due to hacking. After multiple denials for reimbursement from Bank of America, he contacted local news for assistance. Following the news coverage, Bank of America reopened the investigation into his claim. Initially, the bank stated the transaction appeared valid based on previous account activity. Ultimately, after further scrutiny, the bank found evidence of fraud and reimbursed Waleczko's funds, highlighting the impact of media involvement in financial disputes.
As a result of our research, we've determined that we are unable to honor the claim [of fraud] for the following: Our investigation found that the transaction in question was completed using a device that is consistent with previous valid account activity.
It seems that after the local news station showed up, Bank of America investigated harder and suddenly the 'CLOSED' complaint was no longer closed, the bank found evidence of fraud, and reimbursed the funds to his account.
Collection
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