Bank of America to Host Thousands of "Scaminars" to Help Protect Clients and Fight Fraud

Rhea-AI Summary

Bank of America (NYSE:BAC) will host 1,000 additional in-person scam and fraud prevention seminars, or “Scaminars,” by year-end 2026, bringing the total since program launch to 2,500 and reaching tens of thousands of consumers nationwide.

The bank supports clients with 3,500 financial centers, 50+ AI fraud models, over 1 billion educational messages annually, and its online Security Center and Better Money Habits resources.

News Market Reaction – BAC

-0.27%

-0.27% Session close to close

In the Jun 15 session, BAC declined 0.27%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement expands Bank of America’s fraud and scam prevention efforts, including 2,500 “Scam...

Analysis

This announcement expands Bank of America’s fraud and scam prevention efforts, including 2,500 “Scaminars,” more than 1 billion annual educational messages and over 50 AI‑enabled fraud detection models. It highlights support for vulnerable groups and leverages a network of more than 3,500 financial centers and 2,500 employee educators. In context of recent product launches and ongoing structured‑note issuance, investors may watch how these initiatives affect client engagement and reputational strength over time.

Key Figures

In-person seminars 2026: 1,000 seminars Total seminars since launch: 2,500 seminars Educational messages: More than 1 billion/year +5 more

8 metrics

In-person seminars 2026 1,000 seminars Additional scam and fraud prevention sessions during remainder of 2026

Total seminars since launch 2,500 seminars Cumulative scam and fraud prevention seminars by year-end 2026

Educational messages More than 1 billion/year Fraud and security educational messages sent to clients annually

AI fraud models More than 50 models AI-enabled fraud detection models used to help spot fraudulent activity

Financial centers More than 3,500 Retail financial centers across the United States

Fraud educators 2,500 employees Bank of America employees conducting fraud and scam prevention seminars

Social media scam losses $2.1 billion Reported U.S. losses from social media financial scams in 2025

Client base Nearly 70 million clients Clients served in the United States across businesses

Historical Context

5 past events · Latest: Jun 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 11	Preferred dividends	Positive	+1.1%	Declared regular cash dividends on several preferred stock series.
Jun 10	Digital tools launch	Positive	+0.2%	Introduced new rewards, payment planning and credit monitoring features.
Jun 09	World Cup promotion	Positive	+1.4%	Launched World Cup fan engagement with free bands and tickets.
Jun 05	Leadership change	Positive	-0.6%	Named new Upstate South Carolina president after long‑tenured predecessor retired.
Jun 04	Payments initiative	Positive	+3.4%	Announced upcoming launch of cross‑border real‑time payments solution.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent client- and product-focused announcements have generally coincided with modest positive price reactions, with few divergences.

Recent Company History

Over recent weeks, Bank of America has reported several incremental positives: preferred stock dividends on multiple series with payouts like $18.125 and $16.5625, new digital tools such as Refer‑a‑Friend and My Credit, and marketing initiatives around the FIFA World Cup 2026™ with 2 million free Fan Bands. It also highlighted regional leadership changes and plans for cross‑border real‑time payments. Most of these news items, especially payments innovation on June 4, aligned with positive single‑day moves.

Key Terms

ai-enabled fraud detection models, dark web monitoring, social security number

3 terms

ai-enabled fraud detection models technical

"Other tools and resources for protecting clients from fraud include ... 50 AI-enabled fraud detection models."

AI-enabled fraud detection models are computer systems that learn from past transactions and behaviors to spot unusual patterns that may indicate theft, fake accounts, or scams. They matter to investors because they help reduce direct losses, lower the chance of penalties or costly investigations, and protect a company’s reputation—similar to a security camera that learns to flag suspicious activity so managers can act before big damage occurs.

dark web monitoring technical

"These My Credit features include dark web monitoring, Social Security Number monitoring..."

Dark web monitoring is a service that scans hidden online marketplaces and forums for stolen or exposed company data such as employee credentials, customer records, or proprietary files. For investors, it matters because discovered leaks can signal higher risk of costly breaches, regulatory fines, or reputational damage—similar to a neighborhood watch spotting suspicious activity before a break-in, helping assess the security and liability risks tied to a company’s value.

social security number regulatory

"These My Credit features include dark web monitoring, Social Security Number monitoring..."

A Social Security Number (SSN) is a unique nine-digit identifier assigned by the U.S. government to track an individual’s earnings and eligibility for social benefits; think of it as a personal account number the government uses to link financial and tax records. For investors, an SSN matters because it is required for opening brokerage accounts, reporting taxable transactions, and verifying identity to prevent fraud — and it must be protected like a financial key to avoid identity theft.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Key points

• By year-end 2026, Bank of America will conduct 2,500 in-person scam and fraud prevention seminars reaching tens of thousands of consumers across the U.S.
• This grassroots initiative is designed to bring essential scam and fraud prevention education to local communities across the nation amidst the growing threat of digital financial scams.
• Other tools and resources for protecting clients from fraud include more than 1 billion educational messages sent to clients each year, the Bank of America Security Center and 50 AI-enabled fraud detection models.

CHARLOTTE, N.C., June 15, 2026 /PRNewswire/ -- In support of World Elder Abuse Awareness Day, Bank of America today announced it will host 1,000 in-person scam and fraud prevention seminars, also known as "Scaminars," throughout the remainder of 2026. This will increase the total number of sessions held since the program began to 2,500, reaching tens of thousands of consumers in local communities throughout the nation. Aligned with the current Elder Abuse Awareness Month, the bank will host hundreds of these seminars in June alone.

"Our commitment to financial safety goes beyond simply reacting to threats – it's about proactively empowering people with the knowledge they need," said Jenn Ehresmann, Head of Consumer Client Protection at Bank of America. "This program aims to strengthen the financial wellness of the communities we serve through greater accessibility to fraud and scam prevention training. The robust participation we have seen across all generations shows a clear need for this type of education at the local level."

Financial fraud and scams have become more sophisticated, making it harder for people to navigate digital threats. In 2025, financial scams from social media alone resulted in reported losses of $2.1 billion, an eightfold increase since 2020, according to the Federal Trade Commission. With a curriculum built by Better Money Habits®, Bank of America's free financial education platform, the seminars address this rising challenge head-on, providing attendees with crucial information on:

• Identifying common digital fraud tactics and red flags.
• Trending scams that may not be widely known.
• Resources available to clients.
• What to do if you become a victim.

The grassroots program brings fraud prevention education directly to local communities through Bank of America's network of more than 3,500 financial centers and 2,500 Bank of America employees who conduct fraud and scam prevention seminars. Bank of America has also partnered with local law enforcement and community organizations—including retirement centers and chambers of commerce—to expand the program's reach and impact.

"Fraud prevention begins with comprehensive awareness and education," said Andrew Cromwell, Trust and Financial Protection executive at Bank of America. "When people understand scams and their warning signs, they're better equipped to protect their finances and their loved ones."

BofA Security Center, Enhanced Fraud and Identity Monitoring
Bank of America continues to help protect clients through its enhanced Security Center – which lets clients manage online and mobile banking security options. The site brings together security features, tools, and fraud and scam education in a centralized, client‑friendly experience. Bank of America also using more than 50 AI-enabled fraud detection models to help spot fraudulent activity. In addition, Bank of America provides more than 1 billion educational messages to our clients each year, including details on emerging scams, red flags and preventative tools.

BofA Rewards members, who are enrolled in My Credit, also have access to enhanced fraud and identity monitoring. These My Credit features include dark web monitoring, Social Security Number monitoring, full-service identity restoration and more.

Frequently asked questions
Question: How do clients sign up for a seminar?

Answer: Bank of America clients can register at a participating financial center, in person or by phone. The seminars are free to attend for all clients and prospects.

Question: Who should participate in a seminar?

Answer: Bank of America's fraud and scam education seminars are applicable for clients of all ages. The program also includes sessions tailored to populations vulnerable to financial scams and fraud, including youth and young adults, as well as elderly adults, ensuring that everyone can access information most relevant to them.

Question: What other tools or resources does Bank of America offer to help protect consumers from scams and fraud?

Answer: Bank of America Security Center brings together a variety of security features and educational tools. Bank of America clients can access Security Center in Mobile and Online Banking to find additional information about the level of protection of their accounts and information. Additionally, Better Money Habits, Bank of America's free financial education platform, provides a variety of additional resources on these topics.

Question: How else is Bank of America protecting clients from scams and fraud?

Answer: Bank of America has a multifaceted approach to protecting clients, from prevention and detection processes, to providing resources to front-line associates and broad-based education for the community. Bank of America has heavily invested in its fraud prevention technology to combat future risks for clients. For example, the company has developed and implemented more than 50 AI models to help prevent and detect fraud.

Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact
Don Vecchiarello, Bank of America
Phone: 1.980.387.4899
don.vecchiarello@bofa.com

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SOURCE Bank of America Corporation

FAQ

What are Bank of America (BAC) "Scaminars" and how many will be held by 2026?

Scaminars are in-person scam and fraud prevention seminars hosted by Bank of America. According to Bank of America, it plans 1,000 additional sessions in 2026, bringing the total to 2,500 seminars since the program began, reaching tens of thousands of consumers.

How can Bank of America (BAC) clients sign up for a fraud prevention Sciminar in 2026?

Clients can register for a Sciminar at a participating Bank of America financial center, in person or by phone. According to Bank of America, the seminars are free for clients and prospects, offering local education on scams, red flags, and response steps.

Who should attend Bank of America (BAC) scam and fraud education seminars?

Bank of America seminars are designed for clients of all ages, including non-elderly participants. According to Bank of America, sessions are tailored for vulnerable groups such as youth, young adults, and elderly adults, so each audience receives the most relevant fraud prevention information.

What fraud protection tools does Bank of America (BAC) offer besides Scaminars?

Bank of America offers its online and mobile Security Center plus extensive educational messaging. According to Bank of America, clients receive over 1 billion fraud-related messages annually and can access Better Money Habits resources, security controls, and information on account protections and emerging scam trends.

How does Bank of America (BAC) use AI to help prevent fraud for its clients?

Bank of America uses AI-enabled models to support fraud prevention and detection across client accounts. According to Bank of America, more than 50 AI fraud detection models help spot suspicious activity, complementing prevention processes, employee resources, and broad-based client and community education efforts.

What identity monitoring benefits do Bank of America (BAC) My Credit users receive?

BofA Rewards members enrolled in My Credit receive enhanced fraud and identity monitoring benefits. According to Bank of America, these features include dark web monitoring, Social Security Number monitoring, full-service identity restoration, and other tools to help protect clients’ personal information and respond to identity threats.