Consumer complaint received 2021-08-12
Company: WELLS FARGO & COMPANY
State: TX
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
My Wells Fargo checking and savings bank accounts were accessed through fraud and over {$21000.00}, were taken out of my accounts through the use of money wires. Wells Fargo failed to protect me and my bank accounts, which consisted of my pension and social security survivor benefits. I am a retired single parent with a son in college. His father recently passed away and we are still dealing with probate process. 
On XX/XX/2021, I received several calls from XXXX XXXX XXXX XXXX XXXX, a male claiming to be a representative from Wells Fargo fraud dept. I was in a panic, the individual stated that my account had been accessed by two companies in XXXX XXXX. He stated that he was refunding my account for the charges. He sent me a security verification code and instructed me to verify the code. I read him the codes as instructed. I attempted to access my account and was unable to access my account online. The man claiming to be a Wells Fargo official stated that he had changed my password and was going to give me a temporary PW after the call. I then told my cousin to call the other Wells Fargo Bank number listed in the back of my card. When the Wells Fargo official answered, the man I was on the phone with heard through speaker phone and he hung up. I immediately spoke to the Wells Fargo official whose number I had obtained from the back of the card and after a long maze was able to get through to the fraud dept. I reported the incident within 3-4 minutes of the Wells Fargo impostor call. I was informed that the individual had attempted to withdraw money from my account and the Wells Fargo official stated she was going to freeze my account and have the charges reversed and at this time my money was still in my account. 
I made several calls to the Wells Fargo fraud department while I was on my way to the WF branch office. On one occasion I was instructed to go to my computer and call back. When I called back the WF official told me that someone had called Wells Fargo claiming to be me and had approved the wire transactions. I was instructed to go to a Wells Fargo branch with my identification and talk to a bank official. While I was at the Wells Fargo XXXX branch bank officer l was told that Wells Fargo had sent several wires and that my savings and checking accounts were depleted. they were able to wire another {$10000.00}, - {$10000.00}, {$1800.00}, {$800.00}, {$45.00} and {$50.00}.

First the WF bank officials stated that I would get my money back within 24 to 48 hours. Then they stated that it would take about 10 days. Then claims department sent letters stating that the wires had already been sent since I had called to unfreeze the account and approve the wire transactions. I informed them that I had not called, I would not know how to do that and that I was at the bank reporting the fraud. They indicated that they would ask the receiving bank to return the money, but if the receiving bank did not return the money I would be out of my money. 
I sincerely believe that the man who called was or is a Wells Fargo employee, since he had all of my information and new exactly what procedures to follow to get the Wells Fargo officials to grant them access to my money after I had reported the fraud. 
The XXXX Branch Wells Fargo official stated that three other victims had also reported the same type of theft within the week, one being an attorney. On the same day XXXX filed a complaint with the XXXX Police Department and the XXXX investigator stated he had received a similar complaint from a local businessman who had {$88000.00}, stolen from his Wells Fargo bank account. I also filed a report with the US Department of Homeland Security , Financial Fraud Unit who is working with the XXXX Police Department Task Force.

Wells Fargo failed to protect me by not freezing my account as I was told by the WF officer and allowed the perpetrator to access my WF Bank accounts. I am also in the process of filing a complaint with the Consumer Financial Protection Bureau and the Federal Trade Commission. 
I ask that Wells Fargo do the right thing and return my money, review their failed policies on the process of customers reporting theft of funds from consumer bank accounts and Wells Fargo failure to protect their customers. 
Respectfully, XXXX XXXX ( XXXX XXXX XXXX

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 non-monetary relief