Consumer complaint received 2021-04-27
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem accessing account

Complaint:
Started date : XX/XX/XXXX Problem noticed date : XX/XX/XXXX Amount lost : {$28000.00} A imposter somehow got my social security number and created online checking account on XX/XX/XXXX. And he changed the contact, mailing information to a different address. The statements and all documents were sent to him. My wife takes care all banking but she opened a business XX/XX/XXXX and struggling due to Pandemic. She had business with Wells Fargo for more than 20 years so she totally trusted Wells Fargo and did not notice anything was wrong. The imposter then got into our joint checking account and saving accounts. He started to move small amount such as {$100.00} or {$250.00} because we transfer {$100.00} to our two kids ' saving account and {$250.00} for our own saving account.He started to transfer aggressively on XX/XX/XXXX and XX/XX/XXXX. My wife realized that the account balance was almost zero on XXXX 2021.So we went to a one of the branch in XXXX, CA on XX/XX/XXXX to find out what was happening. The banker told us that I opened an account online and transferred money from our joint account. I asked the banker how anyone can just open an account online without ID verification at the branch. He said during the Pandemic it was possible without verification. So I went to online that night and tried to open a online banking, it was so easy with social security number. The total money we lost is {$28000.00}, but the bank denied any responsibilities. 

The claim department responded as below. 
" Your claim indicates that the account number ending XXXX and XXXX was opened without your knowledge or consent. As a result of our research, we found that the account information, including the " welcome package '' was sent to your address or existing email. Additionally, in light of the transaction history on the accounts, it is our determination that you are responsible for this account. Our research of the transactions shows that they were requested through a secure online banking session using your username and password. After reviewing all the information available to us regarding the transactions you are disputing we have determined that the transactions were made by you, or someone who had your authorization. '' Wells Fargo bank must verify the person who opens an account. Clearly they failed it. The imposter used different address and driver 's license number. If the bank verified him at the branch he couldn't open an account and withdraw money from our joint account. He used my ID to create an account to transfer all his fraudulent and illegal activities. I believe that Wells Fargo system has serious security problems. I have two other bank accounts with other banks. They frequently ask security code numbers or personal questions before going into my online banking. However, Wells Fargo online banking never asks security questions nor issues security code through text message. It is a perfect bank for a imposter for fraudulent activities. 
Wells Fargo must prove that the imposter is me before denying the claim but they failed to do so. They concluded it is me who opened the account. 
It was extremely difficult to deal with the customer service. They would not believe it was me calling and kept asking me to go to a branch to get identified before further discussion. I went to the branch several times and called the XXXX number many times. Each time I call, it was back to square number one, they took long time to verify me and I had to explain all over again. Then nothing was done, I had to call and explain again. No one person was assigned to the case, it was different person each time and they just went by what was shown on the screen they are looking at. 
I have no where to go now.

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