Consumer complaint received 2025-08-10 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
On XX/XX/XXXX and XX/XX/year>, I was the victim of a sophisticated coercion scam involving criminal impersonation of Wells Fargo N.A.s Fraud Department. Under threat and intimidation, I was manipulated into transferring {$29000.00} from my account at Wells Fargo to accounts controlled by the perpetrator. These transactions were executed under extreme duress and fraudulent misrepresentation and should not be treated as voluntary authorized transfers. 
The individual claimed to be from Wells Fargos Fraud Department and stated that my accounts had been compromised by employees within the Wells Fargo locations which manage my accounts. They instructed me to move my funds to a secure account for protection. They maintained phone contact throughout, warning me that if I did not follow their instruction exactly and immediately, I would lose all my account funds and face legal consequences. 
These transactions were entirely outside my normal banking activity. The amounts, timing, and destinations were inconsistent with my 19-year history of banking with Wells Fargo N.A . I was visibly distressed and on the phone during the transactions. Industry best practices and your own fraud-protection policies require extra scrutiny for such high-risk activity, yet no intervention occurred. Given the circumstances, I believe Wells Fargo Bank N.A. failed to exercise its duty of care by not questioning or halting the transfers when clear signs of coercion and fraud were present. 
I am requesting a full reimbursement of the {$29000.00} taken under duress. I am also requesting a detailed a detailed explanation of what anti-fraud measures were in place, why they failed in this instance, and what steps will be taken to prevent this from happening to other customers. 
________________________________________ Key Facts : The perpetrator maintained continuous phone contact, creating urgency and fear, and instructed me to bypass normal banking safeguards. 
The transaction was inconsistent with my normal activity : large, atypical, to an unfamiliar recipient, while I was visibly distressed and on the phone. 
Industry standards and your own internal anti-fraud protocols require intervention when multiple high-risk indicators are present. 
No such intervention occurred, constituting a failure to follow established anti-fraud procedures and a breach of your duty of care to prevent foreseeable harm. 
________________________________________ Regulatory Basis : Financial exploitation under coercion is distinct from a voluntary authorized payment and should be treated as an unauthorized transaction for remediation purposes. 
The bank has obligations under federal and state consumer protection laws, including the duty to identify and act upon clear signs of fraud and undue influence. 
Failure to act in the presence of known fraud indicators may constitute negligence and expose the bank to regulatory scrutiny. 
_____________________________________________________ I have filed reports with law enforcement ( XXXX XXXX, GA Police Department case # XXXX and the FBIs IC3 unit ( XXXX ) and the Office of the Comptroller of the Currency ( 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 explanation