The root cause of the erroneous emails sent to clients had not been determined as of Tuesday morning, a memo reviewed by Business Insider shows.Bank of America inadvertently sent more than 3.2 million email notifications to Merrill Lynch Wealth Management clients and private banking clients on Tuesday.
The root cause of the erroneous emails sent to clients had not been determined as of Tuesday morning, according to an internal memo reviewed by Business Insider. Visit Business Insider's homepage for more storiesBank of America inadvertently sent millions of erroneous email notifications regarding fraud claims to Merrill Lynch Wealth Management clients and private banking clients on Tuesday morning, according to an internal memo reviewed by Business Insider.
"Our partners have determined an error was made during a standard template update in the customer notification process which resulted in over 3.2 million notifications inadvertently being delivered to customers who previously had a Credit or Debit card claim," the memo said.
The root cause of the erroneous emails sent to clients had not been determined as of Tuesday morning, and the firm's consumer fraud and technology teams were engaged. The firm has verified it was not a phishing email, the memo said. "Technical teams will also be working to ensure additional controls are added to ensure this issue does not occur again in the future," the memo said. This story is developing. Please check back for updates.
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