Product: Money transfer, virtual currency, or money service

To : Consumer Financial Protection Bureau XX/XX/2022 Wells Fargo Bank XXXX : XXXX XXXX. 
Executive Office Case Specialist From : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Alabama XXXX Re : Complaint : XXXX Page 1 of 3 Dear XXXX XXXX XXXX I would like to formally address and follow up to your response dated XX/XX/2022 with regard to CFPB complaint # XXXX. These are as Follows : 1. You are correct in asserting that I gave you signed authorization XX/XX/2022, and add I paid your firm a fee to complete a wire transfer on my behalf in the amount of {$11000.00}. However please note the following conversation with XXXX XXXX regarding this transaction : At the time of transfer my Banking professional XXXX XXXXWells Fargo in XXXX Alabama was asked to place a 48 hour hold on the funds- to prevent the funds being withdrawn prematurely to allow my wife and I time to drive to XXXX Wisconsin to verify vehicle was as represented. 

XXXX XXXX said Wells Fargo cant do that. I asked if he could verify the recipient banking info and he said he could not do that either. XXXX XXXX noted the paperwork for the funds to be transmitted looked legit. 
XXXX XXXX added if a recall was needed it would need to be done within a couple of hours after the wire transfer had been sent, On XX/XX/2022, XXXXXXXX XXXX we contacted our Branch and spoke to XXXX XXXX Wells Fargo and advised him we had been scammed out of the funds of the wire transfer. XXXX XXXX said he could do nothing and asked we call the number on the back of our debit cards to report Fraud. 

XXXX XXXX in just a little over 24 hours from the time of the initial transfer we notified our branch bank in XXXX Alabama XXXX XXXX XXXX. He failed to initiate and report fraud or act to recall the funds immediate. Instead referring us to a phone number. 

Wells Fargo direction to report Fraud should be and should have been for the Consumer to go to the nearest branch and have a banker file the complaint of fraud. See the attached Wells Fargo publication titled WFFraudinfo and note the number to report fraud. You can not report fraud to anyone at this number. 

As an FYI on XX/XX/XXXX, We were out of state and drove to the a Wells Fargo branch in XXXX Illinois seeking to report Fraud only to find out it was a Wells Fargo Advisers branch. The receptionist gave us a printout of a Wells Fargo branch in XXXX Iowa. We arrived there shortly after XXXX and XXXX XXXX assisted us. Even for her to report a fraud was difficult the numerous transfers disconnect and being placed on hold with time ticking away time was unbearable for me. 

And afterwards she said they will try recall the funds and would I agree to pay the fees for doing so? I agreed. 

XXXX XXXX This was late Friday XX/XX/2022, and Monday was XXXX Day. The attempt to recall the funds was made after XXXX Day. 
Never once has Wells Fargo initiated an investigation or a review of this scam or fraud. 

Here are my questions for Wells Fargo Bank Loss Prevention Departments and Consumer Financial Protection Bureau.

1. Why isnt it the responsibility of Wells Fargo Bank to investigate fraud committed in wire transfers when notified an act of fraud has occurred? 

2. Regarding Wire Transfers using Wells Fargo and XXXX means and methods to conduct wire transfer service for bank customers and being paid for their services : is this a blind process with no controls or failsafe to combat or minimize fraud? 

3. Wells Fargo Fraud reporting phone number is false information. A consumer can not report fraud to Wells Fargo thru this means of communication. If, it is required to go to the nearest branch and a banker to assist in reporting fraud : XXXX XXXX our banker should be advising us of such to save valuable time. 

Opinion : I believe Banking Institutions have a responsibility to work together to safeguard wire transfers, investigate and prevent FRAUD. They have branches and locations all over the county and working together to protect their customers interests. And if it is not their responsibility to protect their customers and investigate fraud committed using their means and methods something needs to change, 2. When doing wire transfers time of the essence in most cases involving purchases. Why cant a consumer place a hold on funds or detail instructions of dispersal as part of the wire transfer transaction? Common sense dictates allowing holds and ( or ) instructions related to a wire transaction would eliminate or reduce fraud in which the consumer needs time to vet a purchase to safeguard their funds. 
Banking Institutions have much more resources than their consumers to investigate and fight fraud than the consumer. 

Update involving Fraud : The following information is being provided to Wells Fargo Bank to validate the fact that Wire Transfer Fraud has occurred. Working with the XXXX XXXX Sheriffs Office located in XXXX Alabama XXXX. 
Lead Detective XXXX XXXX Case # XXXX. The District Attorney in XXXX has issued a warrant for the arrest ( No Holds ) for an XXXXYear-Old Female in the XXXX Texas area. 
She has been positively identified using XXXX Bank video surveillance footage as the person who made the withdrawal of the funds transmitted via wire transfer whose origination at Wells Fargo Branch Location in XXXX, Alabama to a XXXX Bank location in XXXX, Wisconsin. The withdrawal took place in XXXX Texas. 

In closing, Wells Fargo and XXXX Bank are at fault. Wire Transfers from XXXX Bank institution to Another Banking Institution should be safe. Because of their means and methods and or lack of controls designed to minimize fraud. I have been harmed financially. 

I believe it is only fair that I be compensated for this transaction of {$11000.00} and XXXX Bank and Wells Fargo be held accountable for paying it back to me. 

While the amount in questions may seem small to these 2 banking institutions it represents a year of my life as a retired XXXX YO XXXX Veteran. And I now know and understand Wells Fargo Bank failed to act when being notified of fraudulent act committed against me. 

XXXX Bank and Wells Fargo should pick up this investigation and see it through until and prosecute those responsible for committing wire fraud using the banking systems of these 2 Companies. 
In so doing they will know who the culprits are that abuse their system and possibly uncover flaws in the services and their practices to safeguard assets for all American Consumers. 

Respectfully, XXXX XXXX XXXX Wells Fargo Consumer