A Bank of America customer in California has reported losing a substantial amount of money after hackers managed to gain access to his account. Jeff Drobman, the victim of the theft, revealed that the incident began when he started receiving multiple notifications from his Bank of America app, informing him that someone was attempting to log into his account and that his password had been changed. Unfortunately, when Jeff tried to contact the bank to prevent the criminals from emptying his account, his phone suddenly lost service. By the time he managed to reach Bank of America, it was too late – $21,000 had already been stolen from his account. Jeff believes that he fell victim to a SIM-swap attack, where the criminals manipulated his phone carrier, Spectrum, into associating his phone number with a different SIM card. With control of his phone number, the thieves were able to intercept the text back codes sent by the bank, enabling them to change Jeff’s password and steal his money. While text back codes are widely used in the banking system to enhance security, Jeff argues that they are not safe and is calling for the industry to adopt alternative methods such as facial recognition or authentication apps. NBC 4 contacted Bank of America regarding Jeff’s case, and in response, the bank quickly credited his account with $21,000, emphasizing its commitment to addressing cases of identity theft.