Consumer complaint received 2023-08-30
Company: WELLS FARGO & COMPANY
State: MD
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Fraud or scam

Complaint:
Scam Description : I received a text message from what I thought was my Wells Fargo account saying that there was a login attempt to my bank account in XXXX, Arizona. Then, another text from the same number ( listed above ) that a Wells Fargo transaction for {$100.00} was now processing on my debit card from XXXX. I shop at XXXX regularly so I panicked. Then, I received a phone call from the SAME Wells Fargo number on the back of my debit card ( XXXX ). This is a legit Wells Fargo number for customer service, so I answered and believed I was speaking with a Wells Fargo representative. The man said his name was XXXX and that he was calling about suspicious activity with my Wells Fargo bank account. He knew my full name, somehow. He had the hold music and everything. Then, as we were securing my bank account, I received another text message from the same number that I received the previous text message saying that a Wells Fargo transaction for {$1000.00} was now processing from my Savings account from in a XXXX wire transaction. I panicked even more and the man was so calm and polite saying that we now have to dispute this XXXX transfer. Then he walked me through filing and opening a dispute for the XXXX transfer. Somehow, he manipulated me into adding a recipient onto my account ( XXXX ) named XXXX XXXX. He claimed that this was the XXXX fraud manager and that in order to file a dispute and have my money reimbursed to me by Wells Fargo, I had to follow his instructions carefully.Panicking to the point of an XXXX  XXXX, I ended up sending XXXX XXXX {$1000.00} from my Savings account by XXXX. He assured me that I was not sending anything, just opening a dispute and this is how to open XXXX disputes with Wells Fargo. He also kept assuring me that the number he was calling me from was a verified Wells Fargo number and I could see it on the back of my debit card. He told me that tomorrow, I would be reimbursed for the {$1000.00} taken ( from the previous fake text message XXXX came ). He tried to get me to send more money, but that is when realization set in and I realized this was a scam. I asked him for his full name and he would not give it to me. I hung up the phone and immediately called the actual Wells Fargo and filed a complaint with them.The XXXX account that scammed me info : XXXX XXXX Phone : XXXXXXXXConfirmation : XXXX I filed a complaint with Wells Fargo on XX/XX/2023 for the XXXX scam above. I received a document on XX/XX/XXXX saying the claim was denied. I have no idea if Wells Fargo even looked into who scammed me. They did not notify if they were filing a police report at all. They have the information of the scammer ( XXXX phone number, scammer phone number ). They could easily ask for the information from the bank that the XXXX money was sent to and trace the transfer back to the scammer bank account. This scenario is covered under the The Electronic Fund Transfer Act ( EFTA ), regulation E.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation