Consumer complaint received 2022-03-17
Company: WELLS FARGO & COMPANY
State: NV
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Fraud or scam

Complaint:
XX/XX/XXXX a friend contacted me via XXXX and offered an opportunity to make a financial gain. Initially {$1000.00} was requested to start the process. I then took {$1000.00} and transferred it to that friend via XXXX friend advised the profits from the {$1000.00} investment were ready to be received, after the fee for service was paid. This was {$3500.00}. I paid the {$3500.00} using XXXX. XX/XX/XXXX XXXX friend messaged me stating the entire transaction was a lie, a scam. He claimed his account was hacked. I called Wells Fargo within the minute of discovering it was all a scam and reported to them I was a victim of a scam. XX/XX/XXXX I received a letter from Wells Fargo assuring me they were conducting a thorough investigation. XX/XX/XXXX I received another letter from Wells Fargo stating it was determined that payment was processed as requested & as a courtesy they ( wf ) would continue to attempt with resolution of issue with receiving institution. XX/XX/XXXX I called WF in hopes of pleading my case and finding out how they were attempting a resolution with receiving bank. I begged for some compassion and help as I was financially drained by the scam. Per XXXX with WF bank claim was closed, denied for no XXXX coverage. XXXX assured me WF reached out to receiving institution and asked them to consider making the situation right. I asked XXXX for the institutions name and she denied to give that information. At this time it was made known WF knew which institution was on receiving end. It became clear in that moment that WF was withholding who exactly was on the other end of the scam. The receiving institution knows the real name of the hacker, scammer, liar, conman. When WF refused to give receiving institutions name they also refused to bring the scammer to Justice. I believe rather than protect their own customer they are protecting and aiding a conman. I sat with the defeat for a few weeks contemplating what my options were, denying belief that the bank I have trusted since age XXXX XXXX  would allow such a scam to happen, denying belief that a conman could be allowed by two major multi billion dollar banking institutions to get away with such dishonesty and deceit. Then on XXXX XXXX I made another call to Wells Fargo. I believed that this could not end this way, there is a strong desire for them to show compassion and step outside of the black and white box they are operating out of and look at the world of right and wrong. I refuse to accept that wrong can be acceptable and allowed because it falls under the umbrella of terms of use. I spoke with XXXX at Wells Fargo and shared my opinion of just that with her. By now I was in tears because it is now 3 months later and it has been a very difficult 3 months, I have had no money to fall back on to aid me in essential everyday items. I shared this with XXXX and she assured me claim was denied because I authorized money to be transferred to another bank. I then politely requested XXXX connect me with a manager or supervisor. She then transferred me to executive office ( they are the decision makers located right under CEO in chain of command she shared ). I thought to myself perhaps this will be the individual to show compassion and help make things right. I shared with him my feelings and thoughts, I shared I had hoped for a full refund as I was 100 % the victim in belief that this was a genuine transaction. Nope, no compassion. XXXX was his name, he was very good at stating he understood however he failed to show ANY compassion at all other than voicing he understood. I shared with him it was my belief that I have not been handled with care, nor do I believe a thorough investigation on my behalf has been made although every contact at WF has assured me verbally it has. I shared with him that I advised each and every individual that I have documentation, proof that I was scammed and not once has anyone from the claims department conducting said investigation asked for the documents to show proof of scam on my behalf. He then attempted to transfer me back to claims Department ( seemed like he did not want to deal with my grievance he was quick to reconnect me back to claims ). I assured him I was made well aware he has authority or claims department and could do more to help in my situation. He then went on to verbally imply that I was not careful enough with my information ( he implied I was negligent ) and next time I should be more careful. I was speechless at this. I was speechless that the bank I believed to have my best interests at heart, failed to live up to their promise of going the extra mile to make it right! ( That was a phrase found on their website same day ) also found on the WF website WF claims to put the interest of customers and communities first in all that they do. The actions of XXXX claims department and XXXX all the way up at the executive office were complete opposite to what the principals or brand pillars of WF claims to be. No reinforcements to the essence of WF brand have been exercised by the people who are sworn to uphold this brand. Talking with XXXX and asking for help proved to just be more upsetting. I shared that I felt I was the victim of theft, larceny and robbery. I voiced to XXXX I would like to speak to someone above him or file a formal complaint. XXXX advised there was not anyone above him, that he was second to last level of support but that he could help me escalate a complaint or he could help me back to claims Department. I accepted his assistance with an escalated complaint. He advised I would be waiting 2 business days. I received an email from WF 2 days later advising me in other words that I was at fault and must accept their decision. That I the victim was alone on this and the scammer clearly was aided by both institutions on a victory. I ask that I be looked at as a human being, that my circumstances be considered thoroughly and that my loyalty to WF since age XXXX also be accounted for. I believe I was mistreated 100 % by WF, treated as another number, a statistic rather than a person. I was honest with WF throughout our interactions, I shared my personal information including that I have a young baby. That baby requires essential items and that money as I referred to as my lifeline for her is necessary. If I had any doubt that the interactions between myself and the scammer were that of a scam I would not have given over all my money to be scammed. I ask that WF make a full refund and live up to their brand pillars, do what is right for the community, build lasting relationships that last a lifetime, show you know your customers and care about them as individuals. Work to make the consumers lives easier. The last question I have for WF is.. How could a world-wide business labeled as one of the seven safest banks allow and be okay with any of their loyal customers to be taken advantage of? How could they aid conmen, liars and scammers by denying to do what is right because the situation circumstances are under their terms of use? How could they ignore Regulation E and the EFT act? I ask to be heard and refunded in full. I believe I was robbed and victimized by not only a scam artist but as well by my bank institution. For they have treated me like the villain and aided the true villain vs understanding and recognizing me. WF has an opportunity to do what is right here and shine in its community, doing what is right is far more complicated and powerful but shows the integrity of a company and its people. As of now, WF lacks integrity. They went from helping my buy my first house to allowing me to be visibly robbed and taken advantage of by a scammer. What is WF moral obligation to its customers?

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