Consumer complaint received 2023-04-18
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: WELLS FARGO & COMPANY (MN)

Complaint:
Last summer we were victims of significant cyber theft because someone ( or some group ) accessed or electronically stole one of our ATM debits cards. They went on an ~ {$27000.00} spending spree over a 2 month + period. 

We discovered the theft in early XXXX, reported it to our financial institution, Wells Fargo ( WF ) immediately, and the local police in our hometown. I spent 6 hours on the telephone on a Saturday with the WF fraud claim group in the XXXX. 

Since filing my claim on XX/XX/XXXX, we have yet to receive a phone call from anyone from WF. I received four e-mails stating back in XXXX that the bank was working on our claim. Weve made at least a dozen phone calls since and each time we get routed to the same XXXX fraud desk. Only on XX/XX/XXXX of XXXX, did WF finally assign us a case worker with the title, Executive Office Case Worker. This person only has a first name ( male ) and last initial. The telephone extension given in his letter to me is not a working extension when I call it. My Case Specialist explained through a letter that they can do " no more '' on our behalf. The last phone call we had with a person in early XXXX, was a representative in the XXXX. He nearly had me repeat the entire history of our claim again. This rep mentioned that the institution had three months to act on our claim from XX/XX/XXXX and was legally obligated ( agents words ) to be complete by XX/XX/XXXX. 

The fact that no one returned our multiple calls or responded to written letters, e-mails, and a spreadsheet that demonstrates all of the fraudulent purchases made with our ATM card, originally lead me to wonder if the perpetrator ( s ) was actually and employee of our bank. I sent a letter to the banks lead counsel expressing this hunch concern. She has yet to respond. 

Many of the fraudulent purchases that were made were random. Some of the stores dont even exist as far as we could tell. There are bogus insurance policies, vacation stays, fitness club memberships, ballcaps, t-shirts, endless on-line purchases, cable bills, and so on. Other than one very large on-line store, weve never used any of these services, shopped at any of these ( bogus ) stores or used vacation services, etc. Some of the stores were located outside the US ( XXXX ) and purchases were made while we were on vacation. 

The pattern recognition software that WF normally deploys should have recognized this and at least sent up a warning flag to contact us like it had so many times in the past. Where was WF 's security? Their fraud department used to call if they recognized an inconsistent spending pattern. For example, one year, WF alerted us and asked if we were about to pay for an expensive dinner in XXXX. That theft attempt was thwarted because of fraud protection software. There are other examples too. Why didnt they at least call us about the XXXX charges over two months and the ~ $ XXXX of purchases? Does the security software no longer operate? If anyone or any machine was looking at our account, it would easily recognize by just reviewing our monthly statements that something was wrong. The precedent our bank set years earlier within their fraud protection led us to think that it would at least provide the same service. 

On XX/XX/XXXX, WF repaid approximately half of our claim by depositing ~ {$14000.00} into our account. Although we appreciate the gesture, its still a long way from resolving our total claim of ~ {$27000.00}. 

I asked our bank multiple times to see a list of which charges it reversed so we could compare it to the fraudulent purchases on our bank statements and organized in the spreadsheet we attached. The Executive Desk said they will not release that information and that they believe they have done all they can. They mentioned that they have a 60 day policy that essentially states that they will only go back 60 days from the date of claim, XX/XX/XXXX. I mentioned that if this were correct, then it would capture more than 95 % of all the fraud charges we stipulated from XXXX XXXX XX/XX/XXXX. The bank still says they will not release the records they used to determine why theyd only repair ~ {$14000.00} and not the total ~ {$27000.00}. 

Please help.

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