Consumer complaint received 2022-01-20 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: NM

Complaint narrative:
XX/XX/2022 : XXXX XXXX I was recently scammed in a " pay yourself '' scam in which a text supposedly from Wells Fargo Fraud dept. warned that someone was trying to make a XXXX transfer out of my account. The text came in on XXXX. The text asked me to reply if I was the one attempting the transfer. I replied NO. I got another text Thanking me for the confirmation, saying they would reach out to me as soon as possible, and providing a phone number to call for further assistance. I looked at my bank card and it was the same number as that on the back of my card : XXXX. I then CALLED THE NUMBER MYSELF and was put on hold with Wells Fargo with the option of receiving a call back. I chose that option. After 1/2 hour or so I thought perhaps I could get a more direct and timely response by clicking on the phone link provided in the text, since it was the same number I had already called. I did so and was immediately connected with a " representative '' who identified himself as XXXX XXXX and give me a " license '' number. In the course of the next half hour, with many " holds '', he walked me through transferring money from my savings account to an account he gave me the routing number for at XXXX  in order to " reimburse '' myself the money in transit to that account. He assured me that the funds, {$25000.00}, would be back in my account within 24 to 48 hours and that he would call the following morning to see if they had been restored. 
XX/XX/2022 morning : That night I got a bad feeling about the transaction and decided to reach out to the bank in the morning, which I did. ( XXXX XXXX  ) This time I called an alternate fraud number at Wells Fargo and was assured this was a scam and was given a case number : XXXX just after that call with Wells Fargo XXXX XXXX XXXX XX/XX/XXXX, the scammer called in on the " other '' Wells Fargo number but I hung up. I received a few more calls in quick succession but didn't answer them. ( XXXX, XXXX :, XXXX, XXXX ) During a subsequent call on XX/XX/XXXX with a Wells Fargo Fraud Specialist I was given an updated case # ( no explanation ) of XXXX. I was told I would be contacted in 1 to 5 business days ) others in this process had said 1 to 10 ) and I would be informed of a decision in mail delivered to my home address. 
Meanwhile I had submitted an internet Crime Complaint with the government at XXXX on XX/XX/2022. 
Over the course of the next week I made calls in to check on the progress of my complaint. 
Yesterday when I called I was informed it had been denied. No explanation. The woman I spoke with was almost hostile, giving me no information or recourse until pressed. Finally she said I could ask for a review. I then spoke to someone who gave his name as XXXX who said he was submitting my claim for re-investigation. 

At no point in this process has Wells Fargo reached out to me. I've had to initiate all contact. Although I have two part verification on my account, at no point in the process of the transfer initiated by the scammer did the bank reach out to me to check if this was an authorized transfer, neither during or since the transfer. Any check of my account would see that this was uncharacteristic of my banking history and that the amount was beyond anything I would transfer and should have raised immediate red flags. I feel the bank dropped the ball in this case, transferring the money too quickly and without safety checks, and I am the victim of their negligence, especially as they are aware that this type of fraud is occurring at an alarming rate! 

Yesterday, I also filed a complaint report with the FTC # XXXX Today, XX/XX/2022, I will also file with the Office of the Comptroller and my State 's Attorney General. 

I do not deny my part in the transaction, but it was done in good faith while I believed I was dealing with a legitimate banker from Well Fargo who had called me on their line. 
I believe the bank should accept their part in the responsibility of the transaction as well.

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